Vaividhya Enterprises and Indian Traders entered into a agreement to acquire Wind Power Units in Karnataka of ASI Industries Limited for approximately INR 30 million.

Vaividhya Enterprises and Indian Traders entered into a agreement to acquire Wind Power Units in Karnataka of ASI Industries Limited for approximately INR 30 million on May 30, 2022. As per the terms Vaividhya Enterprises will acquire the Karnataka unit and Indian Traders will acquire the Maharashtra Unit and the disposal involves sale of wind power units along with land. As of march 31 ,2022.

the power units reported a turnover of approximately INR 6 million and total common equity of approximately INR 55 million. Transaction is subject to statutory and contractual approvals with already receiving approval from ASI Industries Limited board of directors.The transaction is expected to complete within two months.