JTL Industries has received approval from board of directors for investment proposal of Rs 1,200 crore in company's arm JTL Tubes to set up a project in Maharashtra. The investment will be funded partly from the internal accruals and partly from proceeds of a proposed issue. The Board of Directors of the Company at its duly convened meeting held on December 18, 2023, inter-alia considered and approved the same.
The company's board of directors has also approved issue of securities by way of qualified institutions placement (QIP) for aggregate amount not exceeding Rs 500 crore in one or more tranches, including green shoe option.
JTL Industries manufactures various grades of galvanised steel tubes and pipes.
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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