Earlier, the company announced that it has completed Phase 1 of expansion at its recently acquired subsidiary, Nabha Steels and Metals.

Share Market News: JTL Industries on Tuesday informed the exchanges that the company has approved the allotment of 1,00,000 shares with a face value of Rs 2. According to the reports, the company has also that the allotment of one lakh bonus shares to the investors has also been approved.

Post allotment of shares, the paid up equity share capital has increased to Rs. 35,44,21,660 consisting of 17,72,10,830 equity shares of Rs 2 each.

“Consequently, w.e.f. 11.06.2024, the Issued, Subscribed and Paid-up Equity Share Capital of the Company stands increased to Rs. 35,44,21,660 consisting of 17,72,10,830 Equity Shares of Rs.2/- each. The aforementioned shares rank pari-passu with the existing Equity Shares of the Company,” the company said in an exchange filing.

Earlier, the company announced that it has completed Phase 1 of expansion at its recently acquired subsidiary, Nabha Steels and Metals.

According to the company, phase 1 of expansion is completed and its subsidiary is set to deliver a production of 5,000 metric tons per month of HR coils, the raw material for the production of ERW Steel Pipes.

The second expansion phase is expected to commence shortly and will scale up the production output further by adding more products to its portfolio offerings. “This expansion will enhance JTL’s total backward integration capacity, support the captive requirements of our Mandi Gobindgarh Punjab plant, and aid EBITDA/Ton at this plant by Rs. 2,000 per ton range,” the company said.

JTL Industries Limited has manufacturing facilities in Punjab, Maharashtra, and Chhattisgarh. The cumulative capacity of the company is 7,50,000 MTPA.