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Vedanta submits highest bid to buy Electrosteel Steels: Report

09 Jan 2018 Evaluate

Vedanta has reportedly submitted the highest bid for bankrupt Electrosteel Steels, ahead of a Tata Group bid. The Vedanta's bid was said to be worth about Rs 4,500 crore. The other bidders were Renaissance Group promoted by Abhishek Dalmia and an overseas fund backed by Edelweiss.

Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.

Peers
Company Name CMP
Hindalco Industries 981.90
Vedanta 264.35
Hindustan Zinc 576.05
Jain Resource Recycl 284.70
CMR Green Tech 216.55
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