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ISMT enters into Business Transfer agreement to sell 40 MW Captive Power Plant

12 Dec 2022 Evaluate

ISMT 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. 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. The company will received consideration from such sale/disposal is Rs 65.71 crore.

ISMT is predominantly engaged in the manufacturing of specialty alloy and bearing Steel.

Peers
Company Name CMP
JSW Steel 1247.05
Tata Steel 171.50
Steel Authority 171.50
Jindal Stainless 709.55
APL Apollo Tubes 2210.00
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