JTL Industries Limited, a fast-growing dynamic steel tube manufacturing company which specializes in producing ERW Black Pipes, PreGalvanized and Galvanized Steel Pipes, Large Diameter steel tubes & pipes, and hollow structure is planning to set up a mega project in Maharashtra.
JTL, through its wholly owned subsidiary JTL Tubes Limited, is embarking on a groundbreaking journey with the establishment of a mega capacity augmentation project in Maharashtra.
To finance this ambitious project, JTL is set to raise Rs. 13,100 Mn through various routes, including but not limited to Qualified Institutional Placement (QIP). This infusion of funds will be orchestrated from both promoter and non-promoter groups
Of the overall fundraising, the promoter and promoter group is committed to contributing Rs. 5,400 Mn, while the public, non-promoter group will play a pivotal role with the contribution of Rs. 2,700 Mn. The remaining Rs. 5,000 Mn will be garnered through the QIP route.
This strategic initiative serves as a testament to The Company’s resolute dedication to expansion and diversification, reflecting its proactive approach in shaping the future of The Company marked by dynamic growth and success.
Commenting on the development, the management team of JTL stated:
“We are thrilled to announce our strategic decision to establish a mega capacity expansion project in Maharashtra through our subsidiary, JTL Tubes Limited, with a substantial capex outlay. This state-of-the-art facility will harness cutting-edge technology to enhance efficiency and diversify our product portfolio, underscoring our dedication to propelling the growth and advancement of our business.
This mega capacity expansion project is poised to redefine JTL’s position in the Indian structural steel sector, serving as a catalyst for our emergence as a key player. We are confident that the combination of our industry expertise and the strategic location of the project will yield significant benefits for our stakeholders.
To facilitate this mega project’s execution, we are set to raise a total of Rs. 13,100 Mn through various means including Qualified Institutional Placement (QIP). A substantial portion of this capital, Rs. 5,400 Mn, will be contributed by the promoter and promoter group, with an additional Rs. 2,700 Mn from the public, non-promoter group. The remaining Rs. 5,000 Mn will be sourced through QIP. This strategic financial initiative is designed to provide robust support, ensuring seamless execution and optimal resource utilization.
Throughout the project’s lifecycle, we remain steadfast in our commitment to adhering to the highest standards of sustainability and environmental responsibility.
As we move forward, the entire team at JTL is excited about the opportunities and challenges that lie ahead. We are confident that the Mega Project in Maharashtra will not only contribute to our company’s growth but also play a pivotal role in the economic development of the region.