JSW Steel, the flagship company of Sajjan Jindal’s JSW Group, is close to buying a 45% equity stake in Ispat Industries, an ailing steel maker, for 2,157 crore. But the transaction is dependent on Ispat’s lenders, as the Pramod and Vinod Mittal-led company is carrying out a lender-led debt recast.
The institutions, including IFCI, IDBI, ICICI and SBI, which had collectively lent about 7,000 crore to the steel maker, own 11% in Ispat. This could raise institutional shareholding in Ispat to above 35%, bringing down promoter holding to 28% from about 40%. crackcrack
| Company Name | CMP |
|---|---|
| Tata Steel | 210.95 |
| JSW Steel | 1257.25 |
| SAIL | 176.45 |
| Jindal Stainless | 775.60 |
| APL Apollo Tubes | 2022.35 |
| View more.. | |
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