M AND B Switchgears has received an approval for sale of certain assets (operational/in-operational) of the Company subject to the necessary approval. The board of directors at its meeting held on May 28, 2013 has approved for the same.
M AND B Switchgears is engaged in manufacturing of power transformers, distribution transformers, furnace transformers and special purpose transformers. The company proposes to use the net proceeds of the issue to part-finance its project of setting up a new grid connected 4 MWp solar photovoltaic power plant at Gagorni in Rajgarh district of Madhya Pradesh.
