Essar Steel, private steel maker is likely to refinance its entire domestic debt of around Rs 20,000 crore into dollar terms by September. With this initiative company plans to reduce the interest costs, with aims to improve the margins. After this refinancing the interest cost of 12.25-13% will come down to 6-7%, which will have positive impact on its margins. The entity has got approval from the Reserve Bank to raise $430 million last fiscal and it had around Rs 22,000 crore in rupee debt.
Essar Steel is a fully integrated flat carbon steel manufacturer from iron ore to ready-to-market products. Its products find wide acceptance in highly discerning consumer sectors, such as automotive, white goods, construction, engineering and shipbuilding.
Company Name | CMP |
---|---|
JSW Steel | 888.05 |
Tata Steel | 165.85 |
SAIL | 168.50 |
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