IIL promoters are likely to need more funds to invest in their steel business and overseas acquisitions. The cash generated from full or partial sale of GPI Textiles can be used to fund capital expansion projects of IIL.
The promoters can also use the cash to increase their stakes in IIL, which has fallen to 51.5% from 54.5% after the merger of Ispat Metallics India in to IIL. The merger was carried out in accordance to the pre-conditions laid down by the lender.
Ispat Industries, the flagship of the Ispat Group, has taken expansive technological strides to emerge as one of India's leading manufacturers of quality steel products. In the process, the company and its parent Group have achieved many firsts in the steel sector and swept past a host of memorable milestones.
marketing@alchempro.com
