ISGEC HEAVY ENGINEERING : COMPLETES SALE OF EQUITY SHARES IN JV COMPANY

• Company has completed the transfer of 5,00,000 equity shares in Isgec SFW Boilers Private Limited to Sumitomo SHI FW Energia Oy. • Shareholding in the JV company reduced from 51% to 26%, ceasing to be a subsidiary and becoming an associate company. • Transaction value: ₹4 crores for 5,00,000 equity shares (25% of paid-up capital). • The JV company will continue as a joint venture between ISGEC and Sumitomo SHI FW Energia Oy. • This intimation is also disclosed on the company's website.

Isgec Heavy Engineering Limited

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