M&A
Anil Balaji Steel plans to acquire steel plants in UP, Odisha
Kolkata-based Anil Balaji Steel is planning to acquire steel manufacturing facilities in Uttar Pradesh and Odisha. The company is currently in talks with factories and entities regarding these acquisitions, which are expected to be completed by the next financial year.The firm manufactures rolling shutter gates and steel pipes, having been founded with a focus on rolling shutter solutions, components, accessories, MS and GP pipes, sheets, and coils. The company plans to increase its turnover to INR 500 crore by 2030, from its current turnover of INR 125 crore. Furthermore, the company intends to launch an SME IPO by 2029.Currently, the company operates a manufacturing facility in Howrah, West Bengal, which spans 1 lakh sq ft and maintains an annual production capacity of approximately 1 lakh tonnes. The company has earmarked a total capital investment of INR 200 crore for the next five years, including INR 100 crore for West Bengal and INR 50 crore each for Odisha and Uttar Pradesh.
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