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Maharashtra Seamless makes payment of Rs 477 crore for acquisition of USTPL

19 Feb 2019 Evaluate

Maharashtra Seamless has made payment of Rs 477 crore for acquisition of United Seamless Tubulaar (USTPL) under the Corporate Insolvency Resolution Process (CIRP) as approved by Hyderabad Bench of National Company Law Tribunal (NCLT). The company has made payment on February 19, 2019.

Maharashtra Seamless provides a whole range of high-class, customizable and innovative seamless pipes and tubes using state-of-art technology. The company also manufactures ERW Pipes and Coated Pipes. The company also engaged in the business of Wind Power, Steel Pipes & Tubes. 

Peers
Company Name CMP
JSW Steel 1169.00
Tata Steel 173.60
Steel Authority 171.50
Jindal Stainless 707.85
APL Apollo Tubes 2105.10
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