"JTL Industries Limited Unveils Ambitious Mega Capacity Expansion Project in Maharashtra"

JTL Industries Limited ("JTL"), a rapidly growing steel tube manufacturing company specializing in ERW Black Pipes, PreGalvanized and Galvanized Steel Pipes, Large Diameter steel tubes & pipes, and hollow structures, is set to embark on a transformative journey with the launch of a mega capacity expansion project in Maharashtra.

This ambitious project is spearheaded by JTL through its wholly owned subsidiary, JTL Tubes Limited, and aims to significantly augment the company's production capabilities. To finance this endeavor, JTL plans to raise Rs. 13,100 million through various channels, including a Qualified Institutional Placement (QIP). The funds will be sourced from both the promoter and non-promoter groups.

The breakdown of the fundraising reveals a commitment of Rs. 5,400 million from the promoter and promoter group, Rs. 2,700 million from the public non-promoter group, and an additional Rs. 5,000 million through the QIP route.

This strategic move underscores JTL's unwavering commitment to expansion and diversification, showcasing a proactive stance in shaping the company's future marked by dynamic growth and success.

The management team of JTL expressed their enthusiasm for this development, stating, "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."

The mega capacity expansion project is expected to redefine JTL's position in the Indian structural steel sector, positioning the company as a key player. The strategic location of the project is anticipated to yield significant benefits for stakeholders.

To facilitate the project's execution, JTL is set to raise Rs. 13,100 million through various means, with a significant portion contributed by the promoter and non-promoter groups. The company emphasizes a commitment to adhering to the highest standards of sustainability and environmental responsibility throughout the project's lifecycle.

The entire team at JTL looks forward to the opportunities and challenges that lie ahead, expressing confidence that the Mega Project in Maharashtra will contribute not only to the company's growth but also play a pivotal role in the economic development of the region.

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