MoneyWorks4Me

NCLAT allows JSW Steel to acquire Bhushan Power

17 Feb 2020 Evaluate

The National Company Law Appellate Tribunal (NCLAT) has allowed JSW Steel to acquire Bhushan Power & Steel (BPSL) for Rs 19,700 crore by providing it immunity from prosecution.

As per the bench, the EDITDA earned by BPSL during its Corporate Insolvency resolution period will be given to JSW Steel.

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 1232.35
Tata Steel 178.00
Steel Authority 175.80
Jindal Stainless 742.00
APL Apollo Tubes 2096.95
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