Vardhman Special Steels is in discussions with a Global Steel Company (Strategic Investor) to enter into a strategic alliance in form of acquisition of a minority stake in the company by the Strategic Investor and/or provision of technical support to the company by the Strategic Investor (Proposed Transaction).
At this stage, the company has executed a non-binding letter of intent with the Strategic Investor in relation to the Proposed Transaction. However, there is no certainty that the parties will be successful in executing binding agreements in relation to the Proposed Transaction or that the Proposed Transaction will be consummated. The execution of definitive agreements in relation to the Proposed Transaction is dependent upon, amongst other things, completion of due diligence to be conducted by the Strategic Investor on the company in accordance with applicable laws, to the satisfaction of the Strategic Investor, and resolution of the findings (if any) of such due diligence.
Vardhman Special Steels incorporates cutting-edge manufacturing technology, ensuring the highest levels of quality and compliance. Placed among the leading producers of Special and Alloy Steels, the company caters to diverse requirements of hot rolled bars for Engineering, Automotive, Tractor, Bearing and Allied Industries.
| Company Name | CMP |
|---|---|
| Tata Steel | 212.05 |
| JSW Steel | 1239.90 |
| SAIL | 173.50 |
| Jindal Stainless | 787.90 |
| APL Apollo Tubes | 2105.45 |
| View more.. | |
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