Mideast Integrated Steels Sells Mesco Steels Investment for ₹1.2 Cr

Mideast Integrated Steels Limited (MISL) announced its Board of Directors has approved the sale of its investment in Mesco Steels Limited to Mesco Mining Limited for a cash consideration of ₹1,20,55,000. This transaction is classified as a Related Party Transaction (RPT) as both entities belong to the Mesco Group. The sale, which represents MISL's entire stake of 18.78% in Mesco Steels, is aimed at strategic monetization of non-core financial investments to optimize cash flows and support MISL's core operations. The transaction is expected to be completed within 30 days and is based on an independent valuation report, ensuring it is conducted on an arm's length basis.