We refer to our letter dated 21st February, 2020 ('Annexure 1'), informing that Mahindra Renewables Private Limited ('MRPL') a step-down wholly owned subsidiary of the Company, had on 21st February, 2020 agreed to sell 93,15,000 Equity Shares of Rs. 10 each held by MRPL in Neo
Solren Private Limited ('NSPL') aggregating 100% of the paid-up Equity Share Capital of NSPL to CLP India Private Limited, for a consideration of Rs. 104.67 crores subject to customary closing adjustments, by 31st May, 2020.
In view of the COVID-19 pandemic, the expected date of completion of sale/disposal of NSPL will be by end of August 2020. The other details for sale of a subsidiary i.e., NSPL as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015 has already been disclosed in Annexure A3 of the letter dated 21st February, 2020.
This is for your information.