KEC International has received an approval for transfer of Cable Business of the company, as a going concern on slump sale basis, to KEC Asian Cables (KACL), a subsidiary of the company, through execution of a Business Transfer Agreement (BTA). The BTA will be executed in due course.

The completion of the slump sale of the Cables Business shall be subject to fulfilment if customary conditions precedent (including securing requisite approvals, if any) and in accordance with the provisions of the BTA. The slump sale will be effective from January 01, 2025, or such other date as may be agreed upon by the Company and KACL.

Given the different natures of the EPC business and the Cables business, the subsidiarisation of cables business will help improve focus on Company’s core activities, go-to-market approach and capital allocation. The Board of Directors of the Company, at its meeting held on November 04, 2024, approved the same. 

KEC International is a global infrastructure EPC major. It has presence in power transmission and distribution, cables, railways, water, renewables and civil.