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Mukand Ltd. Capital/Financing Update 2023
60966_rns_2023-02-13_01a24fc6-7df3-44af-9144-4467ee748136.pdf
Capital/Financing Update
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Mukand Ltd.
Regd. Office : Bajaj Bhawan, 3rd Floor Jamnalal Bajaj Marg 226 Nariman Point, Mumbai, India 400 021 Tel : 9122 61216666 Fax: 9122 2202 1174 www.mukand.com
Kalwe Works : Thane-Belapur Road Post office Kalwe, Thane, Maharashtra India 400 605 Tel : 91 22 2172 7500 / 7700 Fax: 9122 2534 8179 13" February, 2023 CIN : L99999MH1937PLC002726
Date:
| 1. Department of Corporate Services | 2. Listing Department | |
|---|---|---|
| BSE Ltd., | National Stock Exchange of India Ltd. | |
| Phiroze Jeejeebhoy Towers, Dalal | Exchange Plaza, Plot no. C/1, G Block, | |
| Street, Mumbai — 400 001. | _ | Complex Bandra-Kurla Bandra (E), |
| ISIN CODE INE304A01026 : |
Mumbai — 400051. | |
| BSE Scrip Code : 500460 |
ISIN CODE: INE304A01026 |
|
| MUKANDLTD. NSE Scrip Name : |
Dear Sir/Madam,
Sub: 5.51% Share Sale of Mukand Sumi Special Steel Ltd to Jamnalal Sons Private Ltd
Ref: Intimation under Regulation 30 and other applicable regulations of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations")
This is further to our disclosures made on 11" November, 2022, in terms of Regulation 30 of the Listing Regulations, wherein Board of Directors of the Company at its meeting held on 11" November, 2022 approved to sell/transfer or otherwise dispose-off 25,71,150 equity shares, constituting 5.51% of equity share capital of Mukand Sumi Special Steel Limited ("MSSSL"), a Joint Venture of Bajaj Group, ("Sale Shares") to Promoter Group Entity(ies) of the Company.
We hereby inform you that Board of Directors of the Company at its meeting held on 13" February, 2023 have approved the proposed sale of 5.51% equity shares of MSSSL to Jamnalal Sons Private Ltd, a promoter group entity of the Company ("Proposed Buyer") at \$574 per equity share of MSSSL ("Proposed Transaction"), including inter-alia, considering fair valuation report received from Registered Valuer.
The Proposed Transaction has been approved by the Board of Directors of the Company in accordance with Section 188 and other applicable provisions of Companies Act, 2013.
The aforesaid sale of the Sale Shares or consummation of the aforesaid Share Purchase Agreement shall be subject to shareholders approval of the Company, third-party consents, statutory and regulatory approvals (including but not limited to Competition Commission of India), as may be required.
Kindly take the above on your record.
