A group spokesperson declined to comment on the size of the forthcoming deal. The market capitalisation of the company is $400 million (Rs 1,840 crore).
Noted industrialist Pawan K Ruia, who had bought public sector engineering giant Jessop through National Democratic Alliance's divestment scheme
Industrialist Pawan Ruia's (think Dunlop and Jessop) arrest this month for cheating and criminal breach of trust marked a new low, but the tide had been turning against him for a while now. Ishita Ayan Dutt & Avishek Rakshit report.
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