With reference to Regulation 30 of SEBI (LODR) Regulations, 2015, JSW Ispat Special Products has informed that pursuant to binding Sale and Purchase of Shares Agreement executed on March 29, 2022 between Monnet Global Limited, ('MGL') a subsidiary of the Company and PT Srinata Mahajati Corpora ('SMC'), a corporation established under laws of Republic of Indonesia, MGL has sold entire equity stake held by it in PT Sarwa Sembada Karya Bumi ('PT Sarwa'), a subsidiary of MGL to SMC at a net consideration of $1.075 million. Consequent to the above, PT Sarwa will cease as the subsidiary of MGL and step-down subsidiary of JSW Ispat Special Products subject to approvals, as may be required from Indonesian authorities. The details as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015, are attached as Annexure-I.
The above information is a part of company’s filings submitted to BSE.
