Monday , 29 November 2021
Breaking News
Mukand gets nod to buy additional stake in MSMPL

Mukand gets nod to buy additional stake in MSMPL

Mukand has received approval to purchase additional 1,33,77,000 equity shares (49% of equity share capital) of Mukand Sumi Metal Processing (MSMPL) from Sumitomo Corporation, Japan (SC), on such terms and conditions as may be mutually agreed among the parties.

Post above purchase, the company’s shareholding in MSMPL would increase from 51% to 100% and eventually MSMPL would become the wholly owned subsidiary of Mukand. The objective of purchase is to further consolidate shareholding of the Company in MSMPL.

Mukand is a multi-division, multi-product conglomerate involved in the manufacture of specialty steel long products and heavy machinery.