M&A

M&A

Jindal Stainless to acquire insolvent co Rabirun Vinimay for Rs.96-Cr

Economic Times  

Publicly-listed Jindal Stainless Ltd (JSL) is to acquire Rabirun Vinimay Pvt Ltd which is under liquidation, for around INR 96 crore. RVPL has potential downstream cold-rolling manufacturing capacity of 250 KTPA (kilo tonne per annum) for wider and thinner segments besides a capacity of 50 KTPA for pipe and tube segment. It has a plant at Vidyasagar Industrial Park, Kharagpur, which is currently shut down.