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M AND B Switchgears gets nod to sell assets

03 Jun 2013 Evaluate

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.

Peers
Company Name CMP
Waaree Energies 2272.00
Apar Industries 15172.30
Havells India 1005.15
Suzlon Energy 36.95
Siemens 3339.15
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