Main
NBCC gets CCI’s nod for takeover of HSCL


NBCC (India) Ltd. is set to acquire the Hindustan Steelworks Construction Ltd. (HSCL) with the Competition Commission of India approving its proposal on March 31.
It is worth mentioning here that the Board of HSCL had allotted Rs 35.7 crore equity share capital to NBCC on April 1.
With this acquisition, NBCC will add a new vertical to its business operation enriching its portfolio further and in turn, further reinforce its position as a leading construction company of the country.
In May last year, the Union Cabinet had approved the proposal for restructuring of HSCL and subsequently its takeover by the NBCC.
HSCL was incorporated in 1964 under the aegis of Steel Ministry for undertaking construction work related to steel plants. It is presently engaged in construction of buildings and infrastructure besides steel plants and has also forayed into certain activities in the mining sector.
-
News4 weeks ago
Tulip Infratech resurrects stuck project, launches Tulip Monsella in Gurugram
-
News3 weeks ago
Fight against inflation – repo rate up 50bps
-
News4 weeks ago
CII–Colliers Report on Real Estate 3.0: Technology led growth released
-
News4 weeks ago
Pacific World School holds exhibition to spread awareness about UN Sustainable Development Goals
-
News4 weeks ago
Shriram Properties reports strong earnings
-
News3 weeks ago
India to require 1.3 billion sq ft additional healthcare space by 2030: CBRE Report
-
News4 weeks ago
Strata launches CRE investment app
-
News4 weeks ago
Colliers releases Global Impact Report