29
Nov
06:36
Kirloskar Ferrous eyes 51.25% stake in pipemaker
India’s Kirloskar Ferrous Industries (KFIL) has agreed to acquire a 51.25% stake in Indian Seamless Metal Tubes (ISMT), by subscribing to equity shares of the target company through preferential allotment and sole control over ISMT.
KFIL will subscribe to shares for an aggregate consideration of INR 476.63 crores ($63.48 million) at a per-share price of INR 30.95 by way of preferential allotment, Kallanish notes.
“We are excited to announce this acqui…
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