In a bid to reduce its Rs 40,000 crore debt burden, Bhushan Steel is planning to raise around Rs 1,000 crore from sale and lease-back of critical assets. Currently, the company’s term loan is around Rs 30,000 crore, much of which was for a 5.2 million tonne plant in Odisha. Working capital loan accounts for another Rs 10,000 crore.
Bhushan Steel, formerly known as Bhushan Steel & Strips, is one of the leading players in the steel industry with steel making capacity of 2.2 Million Tonnes Per Annum (MTPA).
