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The valuations fetched by the larger stressed steel assets — Bhushan Steel and Bhushan Power & Steel — are partly a reflection of the uncertainty associated with greenfield projects in India.
So far, JSW Steel’s offer of Rs 193.5 billion for Bhushan Power & Steel, which has a commissioned capacity of 2.3 million tonnes (mt) of steelmaking, is the highest. However, though Bhushan Power’s commissioned capacity is 2.3 mt, it has a planned capacity of 3 mt. Also, Bhushan’s promoters had earlier submitted a plan to ramp-up capacity to 5 mt.
JSW revised its bid from the earlier
So far, JSW Steel’s offer of Rs 193.5 billion for Bhushan Power & Steel, which has a commissioned capacity of 2.3 million tonnes (mt) of steelmaking, is the highest. However, though Bhushan Power’s commissioned capacity is 2.3 mt, it has a planned capacity of 3 mt. Also, Bhushan’s promoters had earlier submitted a plan to ramp-up capacity to 5 mt.
JSW revised its bid from the earlier
