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Global cues and delay in IBC may hit valuation of stressed steel assets

In terms of bids, for Essar Steel, ArcelorMittal has offered Rs 420 bn on dues of Rs 490 bn. For Bhushan Power & Steel, JSW Steel has offered Rs 193.50 bn on dues of Rs 470 bn

Ishita Ayan Dutt  |  Kolkata 

Global cues and delay in completing transactions through insolvency and bankruptcy process may impact valuations of stressed steel assets. Most of the steel assets facing insolvency proceedings are expected to be completed either by the end of the current fiscal year, a bidder pointed out.

Some of the companies on the Reserve Bank of India's (RBI's) second list have just started with the process and even if they stick to the deadline it would take 180 days, and on an extended timeline, 270 days. Others on the list are yet to make a start. But experience from the ...

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First Published: Mon, November 12 2018. 05:34 IST
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