Uttam Galva is planning to raise around Rs 2,000 crore working capital loans for Lloyds Steel. In this regard, the company is in discussion with public sector banks to raise the said amount and hoping to close the deal by the end of the current quarter.
Mumbai-based Lloyds Steel, which has a steel making capacity of 1 mt per annum, has a total long-term debt of Rs 441 crore in its book. Uttam Galva group, earlier in November 2012, bought 58.35 percent stake in ailing Lloyds Steel, which had posted a net loss of around Rs 213 crore in the last two financial years.
Uttam Galva Steels (UGSL) is engaged in the business of manufacturing Cold Rolling (CR) Coils, Cold Rolled Close Annealed (CRCA), Galvanized Plain Products (GP) and Galvanized Corrugated Products (GC). Company has emerged as one of the largest manufacturers of cold rolled steel ('CR') and galvanized steel (GP) in Western India.
Company Name | CMP |
---|---|
JSW Steel | 913.65 |
Tata Steel | 174.25 |
SAIL | 166.20 |
Jindal Stainless | 805.40 |
Jindal Saw | 555.15 |
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