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JSW Steel, promoters acquire 88% stake in Monnet Ispat

05 Sep 2018 Evaluate

JSW Steel and its promoters have acquired around 88% stake in Monnet Ispat and Energy (MIEL) following completion of the insolvency resolution proceedings. The National Company Law Tribunal (NCLT) had earlier approved Rs 2,875 crore bid by a consortium of Aion Investments and JSW Steel to acquire the bankrupt Monnet Ispat & Energy, which owes over Rs 11,000 crore to a clutch of lenders.

JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.

Peers
Company Name CMP
JSW Steel 1259.00
Tata Steel 178.60
Steel Authority 178.75
Jindal Stainless 750.30
APL Apollo Tubes 2145.00
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