Shares of Ispat Industries today surged by over 10% on the Bombay Stock Exchange, amid media reports that JSW Steel and others are vying to acquire stake in the company.
According to reports, JSW Steel is looking at buy 45.5% stake in Ispat Industries for Rs 21.57 billion and that the company would sell stake via issue of fresh shares.
They also said that Jindal Steel & Power, Arcelor Mittal, and Steel Authority of India may also consider buying a controlling stake in Ispat.
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