Gallantt Ispat has been granted a subsidy of ₹233.55 crore by the Uttar Pradesh government under its Infrastructure and Industrial Investment Policy-2012 and 2017. The subsidy, which is a refund of the State Goods and Services Tax (SGST), covers the period up to June 2025.
The company, which is not currently availing any term loans or unsecured loans, has decided to invest the subsidy amount along with other surplus funds into a fixed deposit with HDFC Bank. The total fixed deposit, including the subsidy, amounts to ₹300.01 crore.
This financial move highlights Gallantt Ispat‘s strategic approach to managing surplus funds, ensuring they are utilised effectively to generate returns.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).
This article is written by Aditya Bhagchandani and reviewed by Aditya Bhagchandani before publication.