M&A

M&A

Virendra Jain family acquires insolvent Kamachi Industries for Rs.487-Cr

Economic Times  

Jai Corp's vice chairman Virendra Jain and his son Ankit Jain have acquired Chennai-headquartered, distressed steel company Kamachi Industries for INR 487 crore. Kamachi makes thermo-mechanically treated steel bars that are used in construction.State Bank of India had taken the company to insolvency proceedings after it defaulted on loans of INR 2,200 crore.