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Pennar Industries makes additional investment of Rs 49.50 crore in PRPL

25 Nov 2016 Evaluate

Pennar Industries has made additional investment of Rs 49.50 crore in Pennar Renewables (PRPL) for acquiring 49,80,392 equity shares. Earlier, on October 14, 2015, the company invested initially Rs 2.9 lakh and acquired 29,411 equity shares of PRPL. Pursuant to the said investment PRPL becomes the subsidiary company.

Pennar is a multi-location, multi-product company manufacturing cold rolled steel strips & tubes, cold rolled formed sections, electrostatic precipitators, pre-engineered building systems, sheet metal components, and road safety systems.

 

Peers
Company Name CMP
JSW Steel 1227.10
Tata Steel 175.50
Steel Authority 174.50
Jindal Stainless 732.35
APL Apollo Tubes 2120.65
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