Southern Ispat plans Rs 95cr acquisition

1541 Investors following South Ispat. Share this News with them.

0

Like this story, share it with millions of investors on M3

Southern Ispat plans Rs 95cr acquisition

In an interview with CNBC-TV18, Vivek Agarwal, Southern Ispat, spoke about the latest happenings in his company and sector.

Post your opinion here

 

0

Tweet

Share on Tumblr

ALSO READ See latest News about South Ispat See previous management interviews See what other Experts & Brokerages are saying about South Ispat Southern Ispat BSE | NSE 10/02/12 Are Mutual Funds betting on Southern Ispat?

In an interview with CNBC-TV18, Vivek Agarwal, MD, Southern Ispat , spoke about the latest happenings in his company and sector.

Here is a verbatim transcript of the exclusive interview with Vivek Agarwal on CNBC-TV18. Also watch the accompanying video.

Q: What type of acquisitions have you planned at this point in time?

A: We have been planning an integrated steel plant for a long time and now we have an integrated steel plant located in Bhuj, Gujarat. They are into manufacturing of alloys and stainless steel products at the rate of 2,50,000 metric tonne per annum.

Q: What is the deal size and name of the company?

A: The total consideration is about Rs 95 crore. I cannot take the name of the company at this time.

Q: So is the acquisition already done and over with?

A: All the due diligence is over and the purchase is going on right now.

Q: We understand that you are looking for a coal mine as well?

A: Currently in Southern Ispat, we would be manufacturing 8 mega-watts (MW) of power. In this plant what we would be acquiring, in that also we are planning to make 30 MW, so for that we have taken a coal mine in Indonesia.