Facor Alloy has informed that the Board of Directors of the Company at its meeting held on today, March 21, 2023, has approved for restructuring of the wholly owned overseas subsidiary(ies) of the Company. The proposed restructuring is to be carried out to ensure streamlining of the entities by reducing number of entities and layers. The restructuring will not have any impact on the stake held by the Company in these subsidiaries, which shall continue to remain same. The Company will make appropriate disclosures in accordance with the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 and other applicable laws as and when there is an occurrence requiring disclosure on the above matter.
The above information is a part of company’s filings submitted to BSE.
