Usha Martin Limited has announced the completion of the slump sale of the business undertaking of its wholly-owned subsidiary, U M Cables Limited, to R R Kabel Limited. This transaction, effective from the closing hours of October 31, 2026, was executed based on a Business Transfer Agreement signed on September 25, 2026. The company confirmed that all necessary disclosures have been made to the stock exchanges.
Usha Martin Finalizes Slump Sale of Subsidiary’s Business
Usha Martin Limited has officially completed the slump sale of the business undertaking of its wholly-owned subsidiary, U M Cables Limited. This significant corporate action was finalized on October 31, 2026, marking a new phase for both entities. The transaction was conducted in accordance with the terms of a Business Transfer Agreement executed on September 25, 2026.
Transaction Details and Regulatory Compliance
The slump sale involved the transfer of the entire business undertaking of U M Cables Limited to R R Kabel Limited on a going concern basis. This development follows earlier intimations made by Usha Martin Limited on September 24, 2026, and September 25, 2026. The company has ensured compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, along with relevant circulars. The disclosure regarding this transaction, as required by SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, was initially made to the stock exchanges on September 24, 2026. Further information is available on the company’s official website, www.ushamartin.com.
Source: BSE
