ISMT Limited (BSE:532479) agreed to acquire Windmills business of Kirloskar Industries Limited for 54 million on May 23, 2023. Windmills business reported a turnover of INR 33.4 million in year ending March 31, 2023.Transaction is subject to subject to the receipt of requisite governmental, statutory, regulatory and third party approvals, required to be obtained by the Company including but not limited to the approval from the Ministry of Environment, Forest and Climate Change, Government of India/Government of Maharashtra, Maharashtra Energy Development Agency and Maharashtra State Electricity Distribution Company Limited. Shareholders of ISMT Limite (BSE:532479) approves the deal.

The deal is subject to the approval of National Company Law Tribunal, Mumbai ("NCLT").