Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Authum Investment & Infrastructure has informed that the Company has executed a Share Purchase Agreement dated July 27, 2023, with Welspun Enterprises (the purchaser), to sell 36.05% of its equity stake from out of 47% in its Associate Company Michigan Engineers (‘MEPL’) subject to necessary approvals as per the agreement. Hence, MEPL shall cease to be associate of the company on completion of the transaction. Details of the proposed transaction as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 is contained in Annexure – A.
The above information is a part of company’s filings submitted to BSE.
