UK-based investor Nithia Capital eyes more acquisitions in steel space

Firm has been active in Indian steel space the past few years. Earlier in the month, it completed acquisition of Crest - under IBC - for a consideration exceeding Rs 600 crore

UK-based global advisory and investment firm, Nithia Capital, which recently snapped up Crest Steel and Power, is eyeing more acquisitions.

“There are at this point three or four active transactions that we are pursuing. If we complete these assets we will add roughly around a million tonne to the existing steel capacity,” said Jai Saraf, founder and CEO, Nithia Capital.

Not all the assets are in the primary steelmaking space - some are downstream and some on the raw material side. A few assets are understood to be outside of the Insolvency and Bankruptcy Code (IBC) and through private negotiations.