Usha Martin Limited , a prominent player in the Indian industrial sector, has announced a significant change in its investor services management. The company's Board of Directors has approved the appointment of KFin Technologies Limited as its new Registrar and Share Transfer Agent, replacing the current agent, MCS Share Transfer Agent Limited.

KFin Technologies: A Market Leader in Investor Servicing

KFin Technologies, holding SEBI registration number INR000000221, is recognized as the largest registrar and a market leader in investor servicing in India. This strategic move by Usha Martin is aimed at leveraging KFin's advanced technological infrastructure and expertise in share-related activities.

Reasons for the Change

Usha Martin's decision to switch to KFin Technologies was influenced by several factors:

1. Technological Advancement: KFin's infrastructure is noted for its technological sophistication, which is expected to enhance the efficiency of share-related processes.

2. Experienced Workforce: The company's team of professionals brings a wealth of experience in handling investor services.

3. Multiple E-Solutions: KFin offers a range of electronic solutions for various share-related activities, potentially streamlining operations for Usha Martin and its shareholders.

Transition Process

The transition from MCS Share Transfer Agent Limited to KFin Technologies will be carried out in a structured manner:

• MCS will continue to provide its services until the electronic connectivity is successfully transferred to KFin.
• Confirmations from depositories will be required to complete the transition.
• A tripartite agreement will be executed between Usha Martin, KFin Technologies, and MCS Share Transfer Agent Limited.

The effective date of this change will be communicated once all necessary agreements are finalized.

Implications for Shareholders

While this change in the Registrar and Share Transfer Agent is primarily an administrative move, it may bring about improvements in the way shareholders interact with the company for various share-related services. Shareholders can expect to benefit from KFin's advanced technological solutions and experienced team in managing their shareholding-related queries and transactions.

This strategic decision by Usha Martin's Board of Directors reflects the company's commitment to enhancing its investor services and staying abreast with technological advancements in the field of share registry and transfer services.

Usha Martin , a leading wire rope manufacturer, has entered into a significant real estate transaction, signing an agreement to sell a parcel of land for 29.52 crore rupees. The deal marks a strategic move for the company as it divests non-core assets.

Deal Details

The agreement, inked with UGP Engineering Private Limited, involves the transfer of leasehold land measuring approximately 10.11 acres. The property, located in Sriperumbudur, Tamil Nadu, includes structures, plant, and machinery. This sale aligns with Usha Martin's strategy to optimize its asset portfolio and focus on core business operations.

Transaction Highlights

Strategic Implications

The sale of this non-core asset is expected to strengthen Usha Martin's financial position. By divesting land that is not central to its primary operations, the company can potentially redirect resources towards its core wire rope and wire products business.

Market Impact

This transaction comes at a time when Usha Martin has been focusing on enhancing its operational efficiency and market presence in the wire rope sector.

Regulatory Compliance

Usha Martin has confirmed that this transaction does not fall under related party transactions and is conducted at arm's length. The company has duly informed the stock exchanges as per the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

As Usha Martin continues to streamline its operations and focus on core competencies, this land sale represents a step towards optimizing its asset utilization. The market will be watching closely to see how the company deploys the proceeds from this sale to drive growth in its primary business segments.