Ispat Ind will change name to JSW Ispat Steel

Ispat Industries will be renamed as JSW Ispat Steel, the company said today.

Ispat Industries cleared the resolution at EGM here today.

JSW had bought 41% in Ispat Industries at Rs 2,157 crore and increased the holding close to 49%.

JSW was in the process of restructuring its Rs 7,000-crore debt for it to exit Corporate Debt Restructuring (CDR).

It is still not clear whether JSW will merge Ispat Industries with itself.