Board of Mukund approves to transfer its Special & Alloy Steel Business to a subsidiary

At meeting held on 22 December 2014

Mukand announced that the Board of Directors of the Company at its meeting held on 22 December 2014 has approved to transfer its Special & Alloy Steel Business, having installed capacity of 3,70,000 MT per annum, as a going concern by way of slump sale to a subsidiary company (to be formed) for an enterprise value of Rs 1590 crore, subject to deduction of debt and net working capital adjustment as on the date of transfer.

The above restructuring proposal is intended to facilitate the possible introduction of a strategic partner.

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