AJR Infra And Tolling Ltd - Intimation Pursuant To Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015

In continuation to our disclosure dated 20th July, 2022, regarding stake sale of 6,27,35,942 equity shares of Rs.10/- each ('Sale Shares'') [constituting 100% of the paid-up capital of Sikkim Hydro Power Ventures Limited ('SHPVL')], a wholly owned material subsidiary of the Company to M/s. Statkraft IH Holding AS having office in Oslo, Norway ('Statkraft'), pursuant to Regulation 30 of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations'), we wish to inform you that the Board of Directors of the Company at its meeting held on 1st September, 2022 has approved the Share Purchase Agreement ('SPA') to be executed between the Company, SHPVL and Statkraft for sale and transfer of the Sale Shares by the Company to Statkraft for a total consideration of Rs.90 Crores (including repayment of the liabilities of SHPVL). Upon completion of the formalities comprised under SPA, the Company shall cease to be a shareholder of SHPVL.