Gallantt Ispat Ltd. Receives Rs. 233.55 Crores in Subsidies from Uttar Pradesh Government
Gallantt Ispat Ltd. announced it has received a subsidy of Rs. 233.55 crores from the Uttar Pradesh State Government. The subsidy, stemming from the Infrastructure and Industrial Investment Policy-2012 and 2017, represents a refund of State Goods and Services Tax (SGST) through June 2025.The company confirmed it is not currently utilizing term loans or unsecured financing. As a result of the surplus funds generated by the subsidy, Gallantt Ispat has invested a total of Rs. 300.01 crores as a fixed deposit with HDFC Bank Limited, alongside other available funds. This amount incorporates the received subsidy.
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