The project is part of the company's backward integration programme at its existing unit at Jorehira in the state's Bankura district.

This is apart from the integrated steel plant by Ankit Metal at Chhatna in Bankura district with an investment of Rs 1,048 crore, he said.

Apart from receiving such a huge investment proposals, the state government has also amended The West Bengal Land Reforms Act, 1955.

Shares of Ankit Metal & Power Ltd closed at Rs 36.95 on the Bombay Stock Exchange, against the issue price of Rs 36 per share.

Equity shares of Ankit Metal & Power Ltd will on Monday list on the Bombay Stock Exchange under 'B1' Group (Scrip Code: 532870).

: Ankit Metal & Power Ltd’s initial public offering of 1.19 crore shares opens on Monday.