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Vedanta acquires control over Electrosteel Steels

05 Jun 2018 Evaluate

Vedanta has acquired control over Electrosteel Steels (ESL) and a new board of directors has been put in place.

Investment from Vedanta Star (VSL), a wholly owned subsidiary of Vedanta, in ESL shall be done through a combination of equity of Rs 1,765 crore and inter-corporate loan of Rs 3,555 crore.

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 860.50
Vedanta 226.00
Hindustan Zinc 497.00
Jain Resource Recycl 289.30
CMR Green Tech 196.00
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