Intimation Pertaining to Board decision for Change of RTA
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The Board of Aditya Ispat Ltd has approved a Business Transfer Agreement (BTA) for the slump sale of its non-alloy steel manufacturing and trading business on a going-concern basis to Jai Bapji Ispat Private Limited, a related party belonging to the Promoter Group. The lump-sum consideration is Rs 3,67,63,000 (about Rs 3.68 crore), subject to net working capital adjustments as of 28 February 2026, with an effective date of 1 March 2026 and expected closing on or before 30 June 2026. Shareholders had already approved the deal via postal ballot on 29 March 2026. Separately, the Board appointed M/s. Elevate Fintech Private Limited as the new Registrar and Share Transfer Agent in place of M/s. XL Softech Systems Limited; the transition will take effect after the necessary tripartite agreements with NSDL and CDSL are executed.
The company is divesting its core non-alloy steel business to a promoter-related entity, which is a material restructuring event that may significantly reshape the company's future operations. Investors should watch for the detailed BTA terms, the final adjusted consideration, and any further disclosures, as related-party slump sales at a modest lump-sum value often draw governance scrutiny.