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Utkal becomes subsidiary of Indal

CHENNAI: Indian Aluminium Company (Indal) has informed the Bombay Stock Exchange that upon securing all the regulatory approvals applicable to the seller and purchaser, the transaction for increasing Indal's equity stake in Utkal Alumina International (Utkal) from 20 per cent to 55 per cent has been completed. This would result in Utkal becoming a subsidiary of Indal.

— Our Bureau

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