Outcome of board meeting of Kirloskar Industries

Held on 19 December 2020

The Board of Kirloskar Industries at its meeting held on 19 December 2020 has accorded its approval for acquisition of 100% equity share capital of Wellness Space Developers (WSDPL) and to make it a Wholly-Owned Subsidiary of the Company. The Board has approved the transfer of the Company's 'Real Estate Business Undertaking at Kothrud' on a going concern basis to WSDPL by way of a 'Slump Sale'. Business Transfer Agreement has been executed by and between the Company and WSDPL.

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