Kirloskar Ferrous takes majority stake in Indian Seamless Metal Tubes

Kirloskar Ferrous Industries (KFIL) has secured regulatory approval for the previously announced INR 476.63 crores acquisition of a 51.25% stake in Indian Seamless Metal Tubes (ISMT).

The deal, which was announced in November 2021, was approved by the Competition Commission of India (CCI).

Based in Maharashtra, Indian Seamless Metal Tubes (ISMT) is an integrated specialized seamless tube manufacturer.

On the other hand, Kirloskar Ferrous Industries is an Indian castings and pig iron manufacturer.