Vallabh Steels enters into agreement with Zoom Developers, Mumbai

Vallabh Steels Ltd has announced that subject to the approval of the shareholders, the Company has entered into an Agreement with Zoom Developers (P) Ltd, Mumbai for sale / transfer through scheme of Arrangement of Sponge Iron Plant at Village Dugdha Ghamaira Saraikella Kharsawan ,Jamshedpur in Jharkhand State, in a special purpose vehicle (SPV) Company in joint venture on the mutually agreed terms and conditions. As per the agreement SPV shall issue part of its shares to the Company.

Source : Equity Bulls

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