KEC International Ltd. Approves Transfer of Cable Business to Subsidiary KEC Asian Cables Ltd. for ~Rs. 1,645 Crore

KEC International Ltd. has approved the transfer of its Cable Business to its subsidiary, KEC Asian Cables Ltd., for a consideration not less than the fair market value. The Cable Business contributed 9.46% of the Company's revenue and 0.62% of its net worth in FY24. The transaction is expected to be completed by January 01, 2025, subject to customary conditions precedent. The sale is not part of a Scheme of Arrangement and is being done at arm's length. The rationale behind this move is to improve focus on the Company's core activities, go-to-market approach, and capital allocation.