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India emerged as a net exporter of finished steel in April–December 2025 as safeguard duties and quality curbs sharply cut imports, even as exports rose amid weak domestic prices and surplus supply. View More

Bharat Coking Coal's IPO attracted massive investor interest, securing bids worth Rs 1.1 lakh crore for its Rs 1071 crore offering. This overwhelming response was fueled by the company's dominant position in coking coal production and attractive valuations. Investors are anticipating a strong listing performance. The company's focus on expanding beneficiation capacity also signals future growth prospects. View More

Bharat Coking Coal 's IPO has emerged as one of the biggest subscribed public offers in recent history, with a relatively small Rs 1071 crore issue attracting bids worth nearly Rs 1.1 lakh crore. The IPO closed with an overall subscription of almost 147 times, cutting across investor categories and setting new records for application numbers in a PSU offering. The scale of demand is interesting not just because of the headline figure, but also because it came at a time when broader equity markets have been volatile and investor risk appetite has been selective. Strong subscription numbers The final subscription data reflects overwhelming demand across segments. The issue was subscribed nearly 147 times overall. Qualified institutional buyers subscribed 311 times, while non-institutional investors bid 258 times the shares on offer. Retail investors applied for 49 times their quota, and even the traditionally steady employee category was subscribed five times. The shareholder quota saw strong interest as well, with subscriptions reaching 87 times. Market participants also point to the record number of applications, estimated at close to 90 lakh, as a sign of unusually broad participation for a PSU IPO. This depth of demand has reinforced expectations of a strong listing, particularly with the grey market premium hovering around Rs 10.6, implying a premium of roughly 46% over the issue price of Rs 23. Live Events Why did investors pile onto the IPO One of the primary reasons for the intense demand lies in Bharat Coking Coal 's unique positioning and the scarcity value, according to analysts. The company is India's largest producer of coking coal and the only meaningful domestic source of prime coking coal, a critical input for steel manufacturing. As of April 2024, it held estimated reserves of around 7.91 billion tonnes, accounting for over one-fifth of India's total coking coal resources. In FY25, Bharat Coking Coal contributed nearly 58.5% of domestic coking coal production, operating 34 mines across Jharkhand and West Bengal. Analysts say this dominant reserve position, combined with assured demand from the steel sector, gives the company a level of visibility that few commodity producers enjoy. Gaurav Garg, research analyst at Lemonn Markets Desk, said the subscription response reflects confidence in this monopolistic position. He noted that the scarcity value of a pure-play coking coal producer, coupled with steady long-term demand from steelmakers, has played a major role in driving investor interest across categories. Valuation comfort amid volatile markets Another key factor behind the strong response was valuation. At the upper price band of Rs 23, the IPO values Bharat Coking Coal at a market cap of around Rs 10,711 crore. On post-issue numbers, the valuation works out to roughly 6.4 times EV to EBITDA, which many analysts consider reasonable for a company with long reserve life, stable offtake and PSU backing. Brokerages have highlighted that in a market environment where many stocks still trade at premium multiples, Bharat Coking Coal offered a combination of low absolute price, predictable cash flows and strategic relevance. This valuation comfort appears to have been particularly attractive for non-institutional investors, as reflected in the 258 times subscription in the NII category. Institutional validation through anchors The anchor book also provided early signals of institutional confidence. The anchor portion was fully subscribed at one time, with 11.88 crore shares allotted, raising around Rs 273 crore. This anchor participation helped set a positive tone ahead of the public issue and reassured other investors about institutional appetite for the stock. According to Garg, the full anchor subscription offered early validation of the issue and likely encouraged aggressive bidding in the later stages, especially from high-net-worth individuals looking for listing gains. Growth levers beyond coal extraction While Bharat Coking Coal is often viewed primarily as a mining company, analysts point out that its future growth is increasingly linked to coal beneficiation and efficiency improvements. The company currently operates washeries with an owned capacity of 13.65 million tonnes per annum and is in the process of adding three new washeries with a combined capacity of 7 million tonnes per annum. It is also renovating the Moonidih washery. Once these projects are completed, total washery capacity is expected to rise to 20.65 million tonnes per annum. This expansion is expected to improve realisations, enhance product quality and strengthen margins over time. Rajan Shinde , research analyst at Mehta Equities , said Bharat Coking Coal's leadership in washery capacity and logistics creates durable cost advantages and high entry barriers. He added that the company is well placed to benefit from India's push towards import substitution in coking coal, supported by long-term demand from the steel sector. Financial performance and near-term risks Financially, Bharat Coking Coal has delivered strong margin expansion over the past two years, aided by operating leverage and pricing. Between FY23 and FY25, the company reported revenue, EBITDA and PAT compound annual growth rates of 4.6%, 88.1% and 36.6%, respectively. However, profitability moderated in the first half of FY26 due to cost pressures and seasonal factors. Analysts caution that near-term performance may remain uneven, especially given weather-related disruptions and operational challenges inherent to underground mining. However, most brokerages view these headwinds as temporary and expect volumes and earnings to normalise over the next few years as capacity expansion and efficiency measures kick in. What to expect from listing day With a grey market premium of around Rs 10.6, the IPO is indicating a strong listing, though GMPs are not always reliable predictors. Still, the combination of heavy oversubscription, broad-based participation and valuation comfort suggests healthy secondary market interest. Investors will also weigh the fact that the IPO is a 100% offer for sale of around Rs 1071 crore, meaning there is no immediate infusion of fresh capital into the company. While this is a consideration for long-term investors, analysts say it has not dampened sentiment given Bharat Coking Coal's cash-generative nature and strategic importance. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)

Cement firms anticipate weaker earnings for the December 2025 quarter. Price moderation following a GST revision, subdued demand from the non-trade sector, and increased raw material costs are impacting profitability. Cement prices saw a decline across India, with southern and eastern regions experiencing the steepest drops. View More

Mumbai: Cement companies are expected to report weaker-than-usual earnings for the quarter to December 2025, weighed down by a goods and services tax ( GST ) revision-led moderation in prices, weak demand from the non-trade segment and higher cost of raw materials. As compared to the seasonally weak September quarter, cement prices were down about 3% pan-India in the October-December period, with southern and eastern India seeing the sharpest declines. While the period marked the first full quarter after the GST rate cuts, cement prices were weaker even when adjusted for the GST revision, analysts said. The average price of cement pan-India per bag of 50 kg was around ₹333 in the December quarter, down from ₹372 per bag in the previous three-month period and ₹359 a year ago. The weakness in prices, along with higher prices of pet coke, will impact the earnings before interest, tax, depreciation and amortisation (EBITDA) of cement producers. The industry's average EBITDA per tonne is likely to be in the range of ₹750-1,050 in the December quarter, down from more than ₹1,000 in the first half of 2025, with Shree Cement likely to top the charts, according to analysts. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Bharat Coking Coal’s IPO drew record-breaking demand, with subscriptions nearing 147 times amid volatile markets, driven by scarcity value, strategic importance to steelmaking, reasonable valuation and confidence in its dominant, monopoly-like position. View More

The IPO of Bharat Coking Coal has delivered one of the strongest subscription responses seen in India's primary market in recent years, with bids worth more than Rs 1.1 lakh crore flooding an issue size of just Rs 1,071 crore. Data from the exchanges show that investors bid for 50,93,16,75,600 shares at the upper price band of Rs 23, translating into a total bid value of about Rs 1.17 lakh crore. Further, in terms of applications, the IPO set a new record at 90.31 lakh applications. Waaree Energies , which brought its IPO in late 2024, is the close second with 82.65 lakh applications. The IPO was subscribed nearly 147 times overall, reflecting broad-based participation across investor categories despite heightened volatility in equity markets. Qualified institutional buyers led the charge with subscription of 311 times, while non-institutional investors bid 258 times the shares reserved for them. Retail investors subscribed their portion 49 times, employees around five times, and shareholders 87 times. The overwhelming demand has come at a time when India's benchmark indices have struggled for direction, making the scale of interest in Bharat Coking Coal stand out. Analysts attribute the response to a combination of scarcity value, strategic importance of coking coal to India's steel industry, and the relatively modest valuation at which the company has come to market. Live Events Gaurav Garg, research analyst at Lemonn Markets Desk, said the strong response reflects confidence in Bharat Coking Coal’s monopolistic position and long-term demand visibility. He noted that exceptional oversubscription in the non-institutional segment points to valuation comfort and expectations of listing gains, while robust retail and shareholder participation indicates trust in the broader Coal India ecosystem. Garg added that although QIB demand was more measured relative to other categories, the overall subscription trend suggests favourable secondary market sentiment driven by the scarcity value of a pure-play coking coal producer. Bharat Coking Coal IPO value Bharat Coking Coal is India's largest producer of coking coal and the country's only meaningful domestic source of prime coking coal, a critical raw material for steelmaking. According to its offer documents, the company held estimated reserves of around 7.91 billion tonnes as of April 2024, accounting for roughly 21.5% of India’s total coking coal resources. In FY25, it contributed nearly 58.5% of domestic coking coal production, operating 34 mines across Jharkhand and West Bengal. This dominant position has made the company central to India’s efforts to reduce dependence on imported coking coal. At the upper end of the price band, the IPO values Bharat Coking Coal at a market cap of about Rs 10,711 crore. On post-issue capital, the valuation works out to roughly 6.4x EV/EBITDA, which several analysts consider reasonable given the company’s long reserve life, operating scale and monopoly-like position in a segment where entry barriers are high. Analysts take SBI Securities, which has recommended subscribing to the issue, has highlighted the widening demand-supply gap for coking coal in India as steelmaking capacity continues to expand. The brokerage points to Bharat Coking Coal’s dominant reserve base and its parentage under Coal India as key strengths, giving it access to capital, technical expertise and logistical advantages that are difficult to replicate. A critical part of the investment case is the company's focus on coal beneficiation. Bharat Coking Coal currently operates washeries with an owned capacity of 13.65 million tonnes per annum and is in the process of adding three new washeries with a combined capacity of 7 million tonnes per annum, along with renovation work at the Moonidih washery. Once these projects are completed, total washery capacity is expected to rise to 20.65 million tonnes per annum, which could improve realisations and product mix over time by supplying higher-quality coal to steel producers. Financial performance has also strengthened over the past two years. Between FY23 and FY25, the company reported revenue, EBITDA and PAT compound annual growth of 4.6%, 88.1% and 36.6%, respectively, supported by operating leverage and pricing. Profitability, however, moderated in the first half of FY26 due to cost pressures and seasonal factors, a reminder that earnings can remain sensitive to operational disruptions and weather-related issues. Rajan Shinde, research analyst at Mehta Equities, said the IPO offers exposure to a strategically critical asset with durable competitive advantages. He pointed to Bharat Coking Coal’s large reserve base in the Jharia coalfields, leadership in washery capacity and strong logistics infrastructure as factors that create high entry barriers and support long-term cash generation. While acknowledging that recent performance was affected by temporary disruptions, he expects volumes and earnings to recover from FY27 as mining activity normalises and new washeries come on stream. Healthy anchor book The IPO's anchor book, which was fully subscribed at 1x, added to investor confidence. Shares worth Rs 273 crore were allotted to anchor investors ahead of the issue, providing early institutional validation. According to market participants, the strength of the anchor book helped set the tone for aggressive bidding across categories. Still, some analysts urge caution. The IPO is a 100% offer for sale worth about Rs 1,068.78 crore, meaning no fresh capital will flow into the company. While this does not dilute the underlying business quality, it limits immediate balance-sheet strengthening and places greater emphasis on execution of existing expansion plans. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)

Bharat Coking Coal's IPO is seeing robust demand. The issue is attracting strong interest in the grey market, indicating positive investor sentiment. High subscription rates, especially from retail and non-institutional investors, highlight confidence in the offering. The company is India's largest coking coal producer. Experts recommend subscribing for potential listing gains. View More

The Rs 1,071-crore Bharat Coking Coal IPO on the third and final day of bidding attracted strong investor interest. The issue was subscribed 147 times overall for 34.69 crore shares on offer. The overwhelming demand was primarily driven by robust participation from qualified institutional buyers and non-institutional investors (NIIs). In the grey market, the IPO commanded a premium of Rs 11, representing a gain of about 46% over its issue price of Rs 23, signalling upbeat investor sentiment ahead of the listing. Bharat Coking Coal IPO subscription status On Day 3, the Bharat Coking Coal IPO had garnered an overall subscription of around 146.8 times, underscoring robust investor interest. Retail Individual Investors (RIIs) participated actively, with their quota subscribed 49.25 times against the 13.85 crore shares earmarked for this segment, reflecting strong enthusiasm from small investors. Live Events The Non-Institutional Investors (NIIs) category witnessed exceptionally high demand, with subscriptions reaching 258.02 times for the 5.93 crore shares on offer, indicating strong confidence among high-net-worth individuals and corporate investors. In comparison, the Qualified Institutional Buyers (QIBs) segment recorded a subscription of about 310.81 times against its allocation of 13.31 crore shares. Bharat Coking Coal employees subscribed 5.17 times the 2.32 crore shares allotted for them. Shareholders of its parent Coal India bid for 87.20 times the 4.65 crore shares reserved for them. Bharat Coking Coal IPO GMP today: The Bharat Coking Coal IPO is currently quoting a grey market premium (GMP) of Rs 11, which translates to nearly a 46% premium over the upper issue price of Rs 23. Based on this trend, the stock is estimated to list at around Rs 34 per share. A strong GMP reflects positive sentiment in the unofficial market and indicates expectations of healthy listing gains . However, investors should keep in mind that GMP is only a directional indicator, and the final listing price may vary depending on overall market conditions and demand on the day of listing. Bharat Coking Coal IPO: Key details The Bharat Coking Coal IPO is scheduled to close today on January 13. The issue size stands at around Rs 1,071 crore and is entirely an offer for sale by Coal India. The price band has been fixed at Rs 21–Rs 23 per share, with a face value of Rs 10 and a minimum application size of 600 shares. The company’s shares are proposed to be listed on both the NSE and the BSE. Bharat Coking Coal is the country’s largest producer of coking coal and the only significant domestic supplier of prime coking coal, a key input for steel manufacturing. As of April 2024, the company’s estimated coking coal reserves were approximately 7.91 billion tonnes, representing nearly 21.5% of India’s total coking coal resources. In FY25, it accounted for about 58.5% of the nation’s domestic coking coal production, highlighting its critical role in the steel industry. The company operates 34 mines located in the Jharia coalfields of Jharkhand and the Raniganj coalfields of West Bengal. Its strategic location near major steel-producing centres, combined with well-established logistics infrastructure, ensures consistent demand. Additionally, ongoing investments in coal washeries are expected to enhance the availability of higher-grade washed coking coal. A wholly owned subsidiary of Coal India—the world’s largest coal producer—Bharat Coking Coal benefits from strong technical expertise, financial support, and operational scale from its parent. On the financial front, the company reported revenue of approximately Rs 14,401 crore in FY25, along with a consolidated profit of Rs 1,240 crore. Although margins have experienced some fluctuations due to pricing and cost pressures, the business remains debt-free and cash-generative, supported by its scale and regulated demand environment. Should you subscribe? According to Anand Rathi Research, Bharat Coking Coal, which holds a strong market position in the industry, is fairly valued at around 8.64x P/E based on FY25 earnings at the upper price band. Given the company’s consistent performance and strong financial metrics, the current valuation appears to be fully priced in. Therefore, the brokerage recommends subscribing to the IPO with a view to earning listing gains. According to a report by SBI Securities, BCCL is India’s largest producer of coking coal, accounting for 58.5% of total domestic production in FY25. The company holds estimated reserves of 7.91 billion tonnes and operates a network of 34 mines, positioning it among the largest holders of coking coal reserves in the country. At the upper price band of Rs 23, the issue is valued at an EV/EBITDA multiple of 6.4x based on post-issue capital. SBI Securities recommends investors subscribe to the issue at the cut-off price. The IPO is being managed by IDBI Capital Markets & Securities Limited and ICICI Securities Limited as the book-running lead managers, while KFin Technologies Limited has been appointed as the registrar to the issue. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)

Bharat Coking Coal’s IPO listing may be delayed due to a January 15 market closure and settlement holiday, potentially pushing debut to January 19, even as strong subscriptions and grey market premiums signal robust investor enthusiasm. View More

The much-anticipated listing of Bharat Coking Coal may not play out exactly as scheduled, with a mid-week market closure and settlement holiday on January 15 raising the likelihood of a short delay in its stock market debut. Stock exchanges will remain shut on January 15 due to municipal corporation elections in Maharashtra, a development that could disrupt the IPO's post-closure processes such as refunds and credit of shares. While the tentative listing date is January 16, the sequence of events suggests the listing could slip to January 19, subject to official confirmation. In a circular, the BSE said trading across equity, equity derivatives, commodity derivatives and electronic gold receipts will remain closed on January 15. The day has also been declared a settlement holiday, typically observed during elections or major public events when banking and clearing operations are affected. How the holiday affects the IPO timeline Bharat Coking Coal's IPO opened on January 9 and is scheduled to close on January 13. The allotment is expected to be finalised on January 14, followed by refunds and credit of shares on January 15. However, with January 15 being a settlement holiday, these activities may get pushed to January 16. Live Events If refunds and demat credits are indeed deferred by a day, the listing -- which typically follows completion of these steps -- is likely to be postponed to January 17 instead of January 16. As of now, there has been no official communication from the company or the exchanges on a revised listing date, though clarity is expected closer to the allotment. Strong demand keeps focus firmly on listing The possible delay has done little to dampen enthusiasm around the issue. The Rs 1,071 crore IPO entered its second day of bidding with strong momentum, having been fully subscribed within the first 30 minutes of opening on Day 1. By the end of the second day, the issue was subscribed over 25 times. Retail and non-institutional investors led the demand, signalling high confidence in the company and the valuation on offer. In the grey market, Bharat Coking Coal shares were trading at a premium of about Rs 11, or nearly 46% over the upper issue price of Rs 23, indicating expectations of healthy listing gains, even amid a volatile broader market. About the issue The IPO consists entirely of an offer for sale by Coal India , with no fresh equity issuance. The price band has been fixed at Rs 21-23 per share, with a face value of Rs 10. Investors are required to bid for a minimum of 600 shares, making it a relatively higher-ticket offering for retail participants. The shares are proposed to be listed on both the NSE and the BSE. Bharat Coking Coal is India's largest producer of coking coal and the only major domestic supplier of prime coking coal, a critical input for steel manufacturing. As of April 2024, the company held estimated coking coal reserves of around 7.91 billion tonnes, representing nearly 21.5% of India’s total coking coal resources. In FY25, the company accounted for about 58.5% of India’s domestic coking coal production, underscoring its strategic importance to the steel sector. It operates 34 mines across the Jharia coalfields in Jharkhand and the Raniganj coalfields in West Bengal, regions with long-established coal infrastructure and proximity to major steel plants. The company also benefits from ongoing investments in coal washeries, which are expected to improve the supply of higher-quality washed coking coal, a key requirement for efficient steel production. As a wholly owned subsidiary of Coal India, the world’s largest coal producer, Bharat Coking Coal draws comfort from its parent’s operational expertise, scale advantages and financial strength. Financial profile and valuation views For FY25, Bharat Coking Coal reported revenue of around Rs 14,401 crore and a consolidated profit of Rs 1,240 crore. While margins have seen some volatility due to pricing and cost dynamics, the business remains debt-free and cash-generative. Brokerages have largely taken a favourable view of the issue, albeit with measured expectations. Anand Rathi Research values the company at around 8.64 times FY25 earnings at the upper price band and believes the valuation is largely priced in, recommending subscription mainly for potential listing gains. SBI Securities, in its note, highlighted the company’s dominant market share and reserve base, noting that at Rs 23 per share, the issue is valued at an EV/EBITDA multiple of 6.4 times on post-issue capital. The brokerage also recommends subscribing at the cut-off price. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)

The Minister for Heavy Industries & Steel chaired a stakeholder consultation meeting on the scheme with various industrial stakeholders from India and abroad. View More

New Delhi: The government is in the process of finalising the Request for Proposal (RFP) for the Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets , Union Minister H D Kumaraswamy said on Monday, urging domestic and international players to participate in the bidding process. The Minister for Heavy Industries & Steel chaired a stakeholder consultation meeting on the scheme with various industrial stakeholders from India and abroad. Kumaraswamy emphasised that the Scheme represents a pivotal step towards establishing a self-reliant, resilient, and globally competitive ecosystem for Rare Earth Permanent Magnets , aligning with the vision of Viksit Bharat by 2047. "He urged all eligible domestic and international players to seize this opportunity and contribute to India's long-term growth story by participating in the bidding process. The minister also informed that the Ministry is in the process of finalising the Request for Proposal (RFP)," the Heavy Industries Ministry said. The meeting was attended by the Secretary, Ministry of Heavy Industries; Secretary, Department of Atomic Energy; CMD, IREL (India) Ltd; Director (Technical), NMDC; Director, NFTDC; and various industrial stakeholders from India and abroad. Live Events The total financial outlay for the scheme is Rs 7,280 crore, including Rs 6,450 crore in sales-linked incentives on REPM sales and Rs 750 crore in capital subsidy for setting up an aggregate 6,000 million tonnes per annum (MTPA) of REPM manufacturing facilities . The scheme spans a total duration of seven years from the date of award, comprising a two-year gestation period for establishing integrated REPM manufacturing facilities and five years for incentive disbursement on REPM sales. "During the meeting, industry representatives outlined their capabilities, expressing interest in participating in the Scheme," the statement said. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

MAN Industries has won new orders totaling Rs 550 crore. These orders are for coated line pipes and related solutions. The company will execute these contracts over the next six months. This brings MAN Industries' unexecuted order book to Rs 4,600 crore. The company supplies specialized steel pipes for transporting oil, natural gas, and water. View More

New Delhi: Line pipes maker MAN Industries (India) has secured orders worth Rs 550 crore from domestic and international clients. The orders are expected to be executed over the next six months, the company said in an exchange filing. "It has secured new orders of Rs 550 crore...for the supply of coated line pipes and related pipe solutions," the company said. Line pipes are specialized steel-grade pipes mainly used for industrial applications for high-pressure transportation of oil, natural gas, and water. With the inclusion of these wins, MAN Industries said its unexecuted order book now stands at Rs 4,600 crore. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

A global glut of high-grade ore, weak prices, and domestic supply constraints are pushing steelmakers to import more just as capacity expansion accelerates. View More

India produced 117.6 million metric tons of ?finished steel between April-December, while consumption stood at 119.3 million metric tons View More