Southern Ispat plans Rs 95cr acquisition

Published on Mon, Mar 22, 2010 at 16:17 |  Source : CNBC-TV18

Updated at Mon, Mar 22, 2010 at 18:14  

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Southern Ispat plans Rs 95cr acquisition

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Q: How much would the quantum of that acquisition be?

A: That would be Rs 35 crore.

Q: Where are you getting these funds from?

A: That would be a mix of GDR warrants and debt.

Q: So how much would be your capacity post these acquisitions? Are you running at full capacity currently?

A: Yes, we are running at full capacity. After this acquisition, we would be making around 4 lakh metric tonne per annum.

Q: This company that you are acquiring, what kind of financial details does it run on, is it profitable and by when would you see revenues from this acquisition actually to trickle on in your books?

A: Yes, that is a profitable company and it is functioning for the last four-five years very successful way. As it is a profit making company so definitely when we will be acquiring it, it would be doing profits only.

Q: By when can we hear the closure of this acquisition?

A: Within a month.

  

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