JTL Industries will invest INR 1,200 crore for capacity expansion in Maharashtra which will be funded partly from internal accruals and partly from the proceeds of a proposed issue.
Dec 19, 2023
The board of JTL Industries has approved the investment proposal of INR 1,200 crore in its wholly-owned subsidiary JTL Tubes Limited to set up a project in Maharashtra. According to the company, the investment will be funded partly from internal accruals and partly from the proceeds of a proposed issue. The filing said, “The board of directors approved a capital raise, authorizing the issuance of securities via a QIP in tranches totaling up to INR 500 crore, with an optional green shoe provision.” JTL Industries Ltd (formerly known as JTL Infra Ltd) is India’s largest producer of electric resistance welded (ERW) steel pipes, with a capacity to produce more than 6 lakh metric tonnes per annum.