The National Company Law Tribunal (NCLT) has approved the resolution plan of Tata Steel to acquire debt-ridden Bhushan Energy for around Rs 800 crore on May 30, 2019. The principal bench of NCLT Delhi also rejected objections from Bhushan Energy's former promoter Neeraj Singal opposing Tata Steels' bid.
Under the resolution plan, Tata Steel will offer an upfront payment of Rs 730 crore. It would also pay Rs 50 crore additionally to operational creditors of the company. Besides, Tata Steel would also infuse Rs 367 crore into the company as a part of equity infusion.
Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 company.
| Company Name | CMP |
|---|---|
| Tata Steel | 189.85 |
| JSW Steel | 1229.75 |
| Steel Authority | 170.00 |
| Jindal Stainless | 698.45 |
| APL Apollo Tubes | 1789.25 |
| View more.. | |
Start Research-backed Investing ...Now. Subscribe to Sapphire
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: