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JSW Steel-Aion consortium files Rs 3,500 crore resolution plan for Monnet Ispat: Report

28 Dec 2017 Evaluate

The Aion Capital-JSW Steel consortium, which last week emerged as the frontrunner to acquire bankrupt Monnet Ispat and Energy, has reportedly submitted a Rs 3,500-crore resolution plan that involves paying Rs 2,500 crore to lenders and an equity investment of Rs 1,000 crore, backed by a letter of comfort from ICICI Bank. The Rs 2,500-crore payment will be a one-time settlement for loans of Rs 10,000 crore, an effective haircut of 75%, under the proposal.

Monnet Ispat and Energy is a holding company. The company is engaged in the business of conducting coal mining operations and manufacturing coal-based sponge iron and various other steel/iron-based products.


JSW Ispat Special Share Price

38.97 0.00 (0.00%)
09-Aug-2023 18:01 View Price Chart
Peers
Company Name CMP
Tata Steel 210.55
JSW Steel 1300.55
SAIL 197.00
Jindal Stainless 696.20
APL Apollo Tubes 1808.35
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