{"id":290838,"date":"2019-09-07T06:11:15","date_gmt":"2019-09-07T06:11:15","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=290838"},"modified":"2019-09-07T06:11:15","modified_gmt":"2019-09-07T06:11:15","slug":"jsw-steels-rs-19700-crore-bid-for-bhushan-power-steel-gets-nclt-nod","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/jsw-steels-rs-19700-crore-bid-for-bhushan-power-steel-gets-nclt-nod\/","title":{"rendered":"JSW Steel\u2019s Rs 19,700 crore bid for Bhushan Power &amp; Steel gets NCLT nod"},"content":{"rendered":"<p>Sajjan Jindal-promoted JSW Steel has finally won Bhushan Power and Steel (BPSL) with its Rs 19,700-crore bid having been accepted by the National Company Law Tribunal (NCLT). At this price, bankers will be taking a near 60% haircut. The appellate tribunal on Thursday okayed the bid which would see financial creditors get Rs 19,350 crore while operational creditors will get `350 crore against their admitted claims of Rs 733.76 crore, a recovery of nearly 48%.<\/p>\n<p>The acquisition of BPSL will make JSW Steel India\u2019s biggest steelmaker with a capacity of over 22 million tonne.<\/p>\n<p>BPSL has a capacity of 3.1 million tonne per annum (mtpa). JSW Steel has already taken over another insolvent firm \u2014 Monnet Ispat \u2014 through the Insolvency and Bankruptcy Code (IBC) route; Monnet has a steel-making capacity of 1.1 mtpa.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sajjan Jindal-promoted JSW Steel has finally won Bhushan Power and Steel (BPSL) with its Rs 19,700-crore bid having been accepted by the National Company Law Tribunal (NCLT). At this price, bankers will be taking a near 60% haircut. The appellate tribunal on Thursday okayed the bid which would see financial creditors get Rs 19,350 crore while operational creditors will get `350 crore against their admitted claims of Rs 733.76 crore, a recovery of nearly 48%. The acquisition of BPSL will make JSW Steel India\u2019s biggest steelmaker with a capacity of over 22 million tonne. BPSL has a capacity of 3.1 [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,240,138],"tags":[],"class_list":["post-290838","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/290838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=290838"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/290838\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=290838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=290838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=290838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}