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Our Bureau

Mumbai, March 3

Gallant Metal Ltd (GML) will hit the primary market with an issue of 371.20 lakh equity shares with a face value of Rs 10 for cash at par aggregating Rs 37.12 crore. This is to part finance its Rs 190.82 crore vertically integrated steel plant in Gujarat. The project is part funded by term loans from a consortium of banks to the tune of Rs 114.50 crore and Rs 45.20 crore from its promoters. The issue opens on March 6 and closes on March 10. It is being managed by Anand Rathi Securities Private Ltd.

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