+
Jindal Saw set to acquire Sathavahana Ispat under IBC
POWER & RENEWABLE ENERGY

Jindal Saw set to acquire Sathavahana Ispat under IBC

Jindal Saw emerged as the highest bidder, offering approximately Rs 5.30 billion for the insolvent Sathavahana Ispat.

Vedanta was also interested in acquiring the publicly traded steelmaker. According to a company statement, lenders issued a letter of intent to Jindal Saw as a successful resolution applicant. The stock notice makes no mention of Jindal Saw's offer to buy the steel company.

Six other companies, in addition to Jindal Saw, submitted expressions of interest (EOI). According to the RP's disclosures on the company's website, these are Vedanta, Welspun Corp, Sarda Mines, Ares SSG Capital (Singapore), Khandwala Finstock, and Trimex Industries.

Sathavahana Ispat operates a 50 MW captive power plant as well as pig iron and ductile iron pipe plants in Andhra Pradesh and Karnataka.

Also Read
UltraTech plans to increase domestic cement capacity by a third by F..
Adani's backed business aids Ambuja Cements raise Rs 50 billion

Jindal Saw emerged as the highest bidder, offering approximately Rs 5.30 billion for the insolvent Sathavahana Ispat. Vedanta was also interested in acquiring the publicly traded steelmaker. According to a company statement, lenders issued a letter of intent to Jindal Saw as a successful resolution applicant. The stock notice makes no mention of Jindal Saw's offer to buy the steel company. Six other companies, in addition to Jindal Saw, submitted expressions of interest (EOI). According to the RP's disclosures on the company's website, these are Vedanta, Welspun Corp, Sarda Mines, Ares SSG Capital (Singapore), Khandwala Finstock, and Trimex Industries. Sathavahana Ispat operates a 50 MW captive power plant as well as pig iron and ductile iron pipe plants in Andhra Pradesh and Karnataka. Also Read UltraTech plans to increase domestic cement capacity by a third by F.. Adani's backed business aids Ambuja Cements raise Rs 50 billion

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code