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Kirloskar Ferrous Industries to acquire Indian Seamless Metal Tubes by majority stake

发布时间:[2021-11-29 16:31:28]    浏览量:71次
According to reports, Kirloskar Ferrous Industries (KFIL) said it will take over majority stakes in Indian Seamless Metal Tubes (ISMT) by subscribing to its equity shares by a preferential allotment and receive sole control on ISMT.

KFIL offers Rs 476.63 crore to buy 51.25% of the stake in ISMT. Also, according to the provisions of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, KFIL also made an open offer for acquiring up to 25.05% of stakes of ISMT.

ISMT is Indian biggest integrated specialized seamless tube manufacturer. It has diversified the manufacturing of specialized seamless tubes in the world. KFIL is one of the biggest pig iron manufacturers in India making grey iron castings.