ALFA TRANSFORMERS LTD. : APPROVES SLUMP SALE OF VADODARA UNIT

• Board of Directors approved transfer by way of slump sale of its Vadodara unit • Transaction subject to shareholder approval and applicable provisions of Companies Act, 2013 and SEBI (LODR) Regulations, 2015 • Sale consideration agreed at ₹18.00 Cr cash, subject to working capital adjustments • Buyer: KASST Industries Limited, an unlisted Indian company proposed to be engaged in manufacturing and marketing of transformers • Transaction is not a related party transaction and is not a Scheme of Arrangement • Rationale: Vadodara unit incurred substantial losses and faces working capital constraints; slump sale aims to make the company debt-free

Alfa Transformers Ltd

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