Mukand to Transfer Special & Alloy Steel Business to Its Subsidiary

摘要

Kolkata: Mukand Ltd has decided to transfer its special and alloy steel business to its subsidiary Mukand Alloy Steels Pvt Ltd on a slump sale basis for Rs1,590 crore. The move is aimed at providing greater focus on alloy steels business and is likely to help induct a strategic partner to power its future growth. "We want to achieve a sharper focus in each business. Since the businesses are different, it is needed to realign them. This will allow us to give each business its due importance," Suketu V Shah, joint managing director, Mukand Ltd, told ET. Mukand Alloy Steels is 99% owned by Mukand Ltd.