Bhushan Steel's market share, big customers attractive bet for JSW Steel

Bhushan Steel's major stake in an Orissa Sponge mine also makes it attractive to JSW Steel

Ishita Ayan Dutt  |  Kolkata 

Much before Parth Jindal said that JSW Steel was keen on Bhushan Steel, the Sajjan Jindal-controlled company had made an unsolicited offer to lenders to take over around Rs 22,000 crore of its debts. Towards the end of January, JSW had approached lenders with a proposal that included taking over a part of Bhushan Steel's debts, which stood at Rs 44,477 crore in FY16. Bhushan Steel's management, which was discussing a loan recast with lenders under the Reserve Bank of India's (RBI's) Scheme for Sustainable Structuring of Stressed Assets (S4A), however, was not on ...

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