Mar 01, 2016 02:51 PM IST | Source: CNBC-TV18

New facility to be operational by Q1FY17: CMI

The acquisition of General Cables Energy India will be financed via both equity and debt and will be the company’s wholly owned subsidiary, said Amit Jain, MD, CMI.

Amit Jain, MD, CMI on Tuesday said the company had completed the acquisition of General Cables Energy India at a cost of Rs 150 crore.

Jain said the acquisition will be financed via both equity and debt and will be the company’s wholly owned subsidiary. The facility will be operational by Q1FY17.

According to Jain the acquisition will lead to uptick in manufacturing capabilities.

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