Pradeep Metals clarifies ₹560.15 Cr expansion news; actual investment ₹250 Cr
Pradeep Metals Ltd has issued a clarification regarding a Dainik Bhaskar news item reporting a ₹560.15 crore expansion of a defense plant in Nagpur. The company stated that the news is speculative and not based on confirmed information. Pradeep Metals clarified that its Board of Directors had approved an investment of up to ₹250 Crores on January 30, 2026, for a new Greenfield Manufacturing Facility for defense equipment. The company has recently identified land for this facility at Butibori Industrial Area, Nagpur. All necessary disclosures regarding the approved investment were previously made to stock exchanges on January 30, 2026, and April 27, 2026. This clarification is made as a good governance practice.
Key Highlights
- Pradeep Metals clarifies speculative news on ₹560.15 Cr defense plant expansion.
- Company confirms actual approved investment of up to ₹250 Cr for new facility.
- Greenfield defense manufacturing facility planned for Butibori, Nagpur.
- All required disclosures were previously made to stock exchanges.
- Clarification issued as a good governance practice for stakeholders.
Price Impact
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