Taeyang Metal India Private Limited announced that it will receive KRW 7,923,750,000 in a round of funding on October 24, 2013. The company will issue equity securities in the transaction. The transaction will include participation from existing investor, Taeyang Metal Industrial Co., Ltd., which will continue to hold 100% stake in the company upon completion of the transaction.

The transaction is expected to close on October 30, 2013. On the same date, the transaction was approved by the board of directors of the company. The company has reported total assets of KRW 36,578,000,000, total liabilities of KRW 31,906,000,000, total stockholders' equity of KRW 4,672,000,000, total capital of KRW 7,553,000,000, total revenues of KRW 22,899,000,000 and net loss of KRW 1,131,000,000 for the year 2012.