Prakash Steelage is planning to offload its 12.47 per cent additional stake in the newly formed special purpose vehicle (SPV) to its joint venture partner Tubacex S A of Spain. At present, the stainless steel tubes & pipes manufacturer holds 32.47 per cent stake in the SPV - Tubacex Prakash India, while Tubacex holds the remaining stake.
Prakash Steelage, a company of the Prakash Group, was started in the year 1996 to manufacture Stainless Steel Welded and Seamless Pipes, Tubes & U-tubes under one roof in India, through its Silvassa Division,PSL is one of the leader in Indian Stainless Steel Pipe and Tube industry.
