IFGL Refractories has received an approval to acquire/purchase further 5,80,500 equity shares of Rs 10 each fully paid up of IFGL Exports (IEL) from promoters so as to make IEL as 51% subsidiary of the company. The board at its meeting held on March 26, 2012 has approved for the same.
IEL has recently set up facilities for manufacture of continuous casting refractories at new area of Kandla Special Economic Zone in Gujarat.
IFGL Refractories, the flagship company of S K Bajoria Group, is engaged in the manufacture of specialized refractories and requisite operating systems for the Steel Industry.
