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MMTC Ltd. — Capital/Financing Update 2022
Jul 4, 2022
60315_rns_2022-07-04_55382992-0f4f-4fe1-8bbe-5cf3d3ee5481.pdf
Capital/Financing Update
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Core #1, Scope Complex, 7, Institutional Area, Lodi Road, New Delhi -110003. Phone No:24362200; 24361889 Email: [email protected] Website : www.mmtclimited.com CIN: L51909DL1963GOI004033
No.BS/325/2022
4[th] July 2022
The Listing Department, National Stock Exchange of India Ltd Exchange Plaza Bandra Kurla Complex MUMBAI 400051 Symbol & Series: MMTC /EQ
Department of Corporate Services Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers Dalal Street MUMBAI 400 001 Company Scrip Code:513377
Subject: Intimation regarding sale of Equity Shares pursuant to disinvestment of Neelachal Ispat Nigam Limited
Dear Sir/Ma’am,
Pursuant to Regulation 30 and other applicable provisions of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 and in continuation of our earlier disclosures regarding disinvestment of Neelachal Ispat Nigam Limited (“ NINL” ), we wish to inform you that MMTC Limited has today transferred its share of 49.78% of the issued and paid-up equity share capital of NINL to Tata Steel Long Products Limited (“ TSLP ”), the successful bidder selected through the two-stage auction procedure involving a competitive bidding process, run under the aegis of Department of Investment & Public Asset Management (“ DIPAM ”), for a consideration determined in accordance with and subject to the terms of the Share Purchase Agreement, Escrow Agreement and other related ancillary agreements (“ Definitive Agreements ”). MMTC has received consideration for the same.
Thanking you,
Yours faithfully, For MMTC Limited
G Digitally signed by G ANANDANARAYANA ANANDANA N RAYANAN Date: 2022.07.04 15:37:42 +05'30'
- (G. Anandanarayanan) Company Secretary