Gallantt Ispat Limited received Rs. 233.55 Crores subsidy from Uttar Pradesh government under Infrastructure and Industrial Investment Policy-2012 and 2017.
The subsidy represents a refund of State Goods and Services Tax (SGST) paid by the company, covering the period up to June 2025.
Surplus subsidy funds, along with other surplus funds, have been invested as Fixed Deposits with HDFC Bank Limited, totalling Rs. 300.01 Crores.