The company, which has steel mills in the western state of Gujarat, said the merger would be subject to legislative approval.
It says that the combined company will ensure the consolidation of the brand ecosystem under the VTL Kamdhenu brand and uninterrupted operations within a single listed company across all business verticals in Gujarat.
The combined company will also have a combined production capacity of 300,000 tons per year, delivering economies of scale in procurement, manufacturing, logistics and distribution with a combined dealer network of 300 people, the company said.
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