Gallantt Metal has received an approval to acquire a Non-Banking Finance Company (NBFC) with 100% equity stake and convert it as a wholly owned subsidiary of the company and making an investment to the tune not exceeding Rs 2 crore. The board has also approved to invest in the equity capital of the other company as a measure of Corporate Financial Planning. The board of company at its meeting held on March 30, 2013 has approved for the same.
Gallantt Metal is running integrated steel plant in Kutch, Gujarat, to manufacture Sponge Iron, M.S. Billets, Re-Rolled products (QST bars) with a captive power plant.
