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Maithan Alloys acquires 1.54 crore shares in Anjaney Alloys

11 Feb 2013 Evaluate

Maithan Alloys has acquired 1,53,75,000 equity shares of Rs 10 each of Anjaney Alloys, a subsidiary company for a sum of Rs 25.40 crore, pursuant to the authority granted by the shareholders earlier.

This has resulted into conversion of subsidiary company to a wholly owned subsidiary of the company.

Maithan Alloys manufactures various grades of ferro manganese, silico manganese and ferro silicon products. It derives 45% of revenues through exports to European and Asian countries. Maithan’s manufacturing units are located in Kalyaneshwari, West Bengal and Byrnihat, Meghalaya, with a combined ferro alloy capacity of 64 MVA, which can produce more than 115,600 MTPA.

Maithan Alloys Share Price

970.85 -2.05 (-0.21%)
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