Cronimet Alloys India has received its board’s approval for merger of ferro alloys unit of Sri Vasavi Industries with the company with appointed date April 01, 2010 and issue of 1 equity shares of Rs 2 each fully paid up for every 5 equity shares of Rs 10 each fully paid held by shareholders of Sri Vasavi Industries on the record date to be fixed by the board of directors.
The company’s board gave the approval at its meeting held on February 23, 2012.
Cronimet Alloys India is engaged in the manufacture of high carbon ferro-chrome for use in the stainless steel industry. The company’s plant has an installed capacity of 25,000 MT with one 6 MVA and one 9 MVA furnace. It manufactures two standard grades of ferro chrome i.e. high silicon and low silicon.
| Company Name | CMP |
|---|---|
| Tata Steel | 206.55 |
| JSW Steel | 1204.00 |
| SAIL | 167.90 |
| Jindal Stainless | 765.15 |
| APL Apollo Tubes | 1978.50 |
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