ISMT Limited to sell 40 MW captive power plant

ISMT Limited has entered into a Business Transfer Agreement, for sale of the 40 MW Captive Power Plant of the Company ("CPP") on a slump sale basis for a consideration of Rs. 65.71 Crore.

The Buyer is Omsairam Steels and Alloys Private Limited, a private limited company having its registered office at Jalna, Maharashtra.

The sale of CPP will strengthen the Balance Sheet / financial position of the Company as CPP is non operational and will also help reduce the annual operating cost that is incurred by the Company to keep CPP in working condition.

Shares of ISMT Limited was last trading in BSE at Rs. 52.85 as compared to the previous close of Rs. 52.20. The total number of shares traded during the day was 120062 in over 682 trades.

The stock hit an intraday high of Rs. 53.95 and intraday low of 52.15. The net turnover during the day was Rs. 6370450.00.

Source : Equity Bulls

Keywords

ISMT INE732F01019 CaptivePowerPlant SlumpSale