Incab Industries, headquartered in Kolkata with manufacturing units in Jamshedpur and Pune, specialises in power cables and industrial wires that rely heavily on copper and aluminium. Its portfolio spans power cables, rubber and plastics, fibre optic cables and winding wires.
The company’s installed capacities include 6,000 km of power cables, 274 million core km of rubber and plastics, 500 MCM of fibre optic cables, 8,150 mt of winding wires, along with copper and aluminium rod mills of 12,000 tpa and 3,960 tpa respectively, and a 5,580 tpa wire mill.
Vedanta will acquire the company in full, including 100 per cent of its paid-up capital and management control, for an upfront payment of ₹545 crore funded entirely through internal accruals.
The transaction is expected to close within 90 days. With both Incab plants currently idle, Vedanta plans to inject fresh capital expenditure and working capital to restart operations.
The company said the acquisition would strengthen vertical integration and boost downstream capabilities across its metals portfolio.
Copper and aluminium are central to power cable manufacturing, and Vedanta’s Silvassa copper facility is situated around 300 km from Incab’s Pune site, offering potential logistical and operational advantages.
The group expects the deal to support its broader expansion in infrastructure, transmission and value-added metals.
The Committee of Creditors had approved Vedanta’s resolution plan on June 23, 2022, after which the matter awaited adjudication at the NCLT.
(Edited by : Ajay Vaishnav)