JSW Steel hikes stake in VTPL to 50%

JSW Steel has further acquired equity stake in Vallabh Tinplate (VTPL) on April 15, 2014 raising its stake to 50%. The company had earlier on April 07, 2014 acquired 26% equity stake in VTPL.

Vallabh Tinplate is currently operating a 60,000 MT per annum tinplate manufacturing facility in Beopror Village, Rajpura, Patiala District in the state of Punjab in India. VTPL is owned by Vardhaman Industries (VIL) along with its promoters. 

JSW Steel is part of the JSW group which, in turn, is a part of the O P Jindal group. JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.