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JSW close to buying 45% in Ispat for 2,157 crore

21 Dec 2010 Evaluate

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

JSW Steel Share Price

1257.25 -5.90 (-0.47%)
23-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Tata Steel 210.95
JSW Steel 1257.25
SAIL 176.45
Jindal Stainless 775.60
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