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Monnet Ispat inks non-binding MoU to sell its power subsidiary

10 Jul 2015 Evaluate

Monnet Ispat & Energy has signed non-binding Memorandum of Understanding (MoU) with JSW Energy for entering into discussion to sell majority and controlling stake of its subsidiary, Monnet Power Company, which is engaged in the business of developing 1,050 MW (2 x 525) Coal fired thermal power plant located at Malibrahmani, Angul Orissa.

Monnet Ispat & Energy is engaged in the business of sponge iron, steel ingot & billets and coal mining.


Peers
Company Name CMP
JSW Steel 1176.45
Tata Steel 171.50
Steel Authority 166.90
Jindal Stainless 707.95
APL Apollo Tubes 2052.00
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