RR Kabel board approved acquisition of Usha Martin’s UM Cables for ₹77 crore

RR Kabel said its board has approved the proposed acquisition of UM Cables, a wholly-owned subsidiary of Usha Martin, via a slump sale on a going-concern basis for a lump-sum cash consideration of ₹77 crore. RR Kabel said the deal is aimed at entering the optical fibre cable (OFC) segment using UM Cables’ existing manufacturing assets, approvals and operating track record.