Pursuant to Regulation 30 of SEBI(LODR)Regulations,2015 , We hereby inform that Usha Martin Americas Inc. ("UMAI"), a wholly owned subsidiary of the Company has entered into an agreement to acquire 2.02% of the share capital of Usha Siam Steel Industries Public Company Limited ("USSIL"), a subsidiary of the Company from Kobelco Wire Company Limited. Subsequent to the acquisition of the said shares by UMAI, USSIL shall become a step-down wholly owned subsidiary of the Company.