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| Exchange Disseminated Time | Kalyani Steels Ltd has informed BSE that :
"After the announcement of slump sale of Special & Alloy Steel business of Mukand Limited (Mukand), having an installed capacity of 3,70,000 MT per Annum, as a going concern to a subsidiary Company, our shareholders have started calling us and raising inquiries about the effect of the same on Kalyani Steels Limited (KSL).
KSL and Mukand operate under a production sharing agreement at Hospet. This plant will continue to operate in its current form in the foreseeable future and we would like to clarify that we are not going into any expansion, augmentation, extension of capacity or any sort of amalgamation with the proposed subsidiary company of Mukand Limited and hence will not have any impact on the production sharing arrangement with Mukand Limited.
However, expansions if any, in future, will be undertaken by Kalyani Steels Limited independently." |
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