Gallantt Ispat’s Board of Directors has approved an investment upto Rs 135 crore in the equity capital of Gallantt Industry (GIPL), wholly owned subsidiary of the company, inclusive of earlier sanctioned investment limits of Rs 70 crore. The Board therefore, has approved a fresh investment of Rs 65 crore in the equity capital of GIPL in trenches under different modes of subscribing, issuing and allotment of shares by GIPL and the mode of investment shall be decided as per the convenience of both the Companies.
Gallantt Ispat is engaged in the manufacturing and marketing of Sponge Iron, Mild steel billets, Re-Rolled products (TMT bars and Structurals) and wheat flour products.