Loha Ispat, one of the major players in the Flat Steel industry is planning to raise capital through a public issue. The company which produces Hot Rolled, Cold Rolled coils, Sheets, Plates, Chequered Coils & Plates and Galvanized Coils & Plates plans to raise INR 205 crores from the market.
The company is looking for an expansion in its Taloja & Khopoli plants. The capital raised through the issue will help the company to meet its working capital requirements. Loha Ispat has presence in markets like Middle East & Hong Kong as well. Its plants proximity to industrial hubs in Mumbai gives it a fair advantage to cater to the domestic Flat Steel Market.
Its existing plant in Khopoli consists of slitting and CTL facilities with an installed capacity of 0.9 MnT pa. The company plans to increase this capacity to 2.1 MnT pa after expansion. The Taloja plant has an installed capacity of 0.1 MnT pa for HR Sheets & Plates and Cold Rolling Mill (CRM) complex with a capacity of 30,000 MT pa.
Sourced
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