Vikas Ecotech acquires Shamli Steel for Rs 1.6 bn
Steel

Vikas Ecotech acquires Shamli Steel for Rs 1.6 bn

Recycling player Vikas Ecotech (VEL) announced the successful acquisition of Shamli Steel for Rs 1.6 billion. As part of this acquisition, VEL has injected an initial working capital of Rs 150 million into Shamli Steel, with plans to further invest between Rs 350-500 million over the initial 3-6 months post-assuming control of the plant, as outlined in a regulatory filing.

In a share swap deal, Vikas Ecotech has secured 100 per cent equity of Shamli Steel at an enterprise value of Rs 1600 million (Rs 160 crore).

This strategic acquisition is expected to significantly enhance the company's gross revenue by an estimated Rs 9 billion, providing Vikas Ecotech with a competitive advantage as it expands its presence in regional markets.

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

Recycling player Vikas Ecotech (VEL) announced the successful acquisition of Shamli Steel for Rs 1.6 billion. As part of this acquisition, VEL has injected an initial working capital of Rs 150 million into Shamli Steel, with plans to further invest between Rs 350-500 million over the initial 3-6 months post-assuming control of the plant, as outlined in a regulatory filing. In a share swap deal, Vikas Ecotech has secured 100 per cent equity of Shamli Steel at an enterprise value of Rs 1600 million (Rs 160 crore). This strategic acquisition is expected to significantly enhance the company's gross revenue by an estimated Rs 9 billion, providing Vikas Ecotech with a competitive advantage as it expands its presence in regional markets.

Next Story
Resources

IGBC Launches 32nd Chapter in Ranchi to Drive Green Building Growth

The CII Indian Green Building Council (IGBC) has launched its 32nd Chapter in Ranchi to accelerate Jharkhand’s transition towards sustainable and resilient urban infrastructure. The launch event, held on September 6 at Radisson Blu Hotel, brought together government officials, industry leaders, and sustainability experts. Sunil Kumar, IAS, Principal Secretary, Urban Development & Housing Department, Government of Jharkhand, said, “The launch of the IGBC Ranchi Chapter marks a significant step in Jharkhand’s urban development journey. The state is committed to creating a policy e..

Next Story
Real Estate

Mindspace REIT Marks Five Years With 14.8 Per Cent Annualised Returns

Mindspace Business Parks REIT, owner and developer of a Grade-A office portfolio, has completed five years since its listing on the Indian bourses in August 2020. Despite debuting during the global pandemic, the REIT has delivered 14.8 per cent annualised total returns, expanded its portfolio, and reinforced occupier trust. Key achievements over five years include: Portfolio expansion of 30 per cent to 31.0 msf through acquisitions and new developments. Gross leasing of 25.2 msf, with occupancy sustained at 93.7 per cent. Cumulative distribution of Rs 55.9 billion to unitho..

Next Story
Real Estate

Great Value Realty Secures RERA Nod for Ultra-Luxury Ekanam Project

Great Value Realty, one of North India’s most trusted developers, has received RERA approval for its flagship ultra-luxury residential project, Ekanam (RERA No. UPRERAPRJ15109/2019). The announcement was made during the Great Partners Meet at Noida. Built on the only available land parcel in Sector 107, Noida, Ekanam embodies the company’s philosophy, “Great is the New Norm,” promising excellence in design, quality, and sustainable community living. With seamless connectivity to Noida Expressway, DND Flyway, metro stations, and proximity to the upcoming Jewar Airport, the project ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?