Jindal Stainless’ (JSL) board has accorded its consent for acquisition of 100% stake in Rabirun Vinimay (RVPL), a company under liquidation, on a going concern basis, in terms of the applicable provisions of Insolvency and Bankruptcy Code, 2016.
RVPL has potential downstream cold rolling manufacturing capacity of 250 KTPA for wider and thinner segment besides having capacity of 50 KTPA for pipe & tube segment. The Plant is located at Vidyasagar Industrial Park, Kharagpur. West Bengal in 60 acres of land area. The plant is currently under shut down.
The proposed acquisition would complement the management's objective of increasing the cold rolling capabilities of going thinner with wider width to cater auto, large household appliances, lift & elevators, surface critical applications.
Jindal Stainless (JSL) is one of the largest stainless steel conglomerates in India and ranks amongst the top 10 stainless steel conglomerates in the world.
Company Name | CMP |
---|---|
JSW Steel | 882.60 |
Tata Steel | 164.95 |
SAIL | 164.25 |
Jindal Stainless | 708.00 |
APL Apollo Tubes | 1562.00 |
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