U.K. Based Metal Tycoon Eyes Purchase Smaller Steel Units In India
Indian-born British businessman and the founder of Liberty House Group Sanjeev Gupta is eyeing investment in India. The metal tycoon is looking to buy around half a dozen smaller steel units in India. Gupta plans to make the purchase by 2025. Unable to grab big-ticket steel units in the past Gupta says that he would be going by the string of pearls strategy. As per the strategy he would eye to overtake plants with a capacity of 300,000 to 500,000 tons, which can be scaled to 2 million tons or more. In the past, the businessman has bidded for stressed steel assets sold as a part of the bankruptcy process.