NuMetal offers Rs 37,000 crore for Essar Steel, wants second round of bids opened
Updated : May 18, 2018 06:23 AM IST
ArcelorMittal, the only other bidder to have put in a bid for Essar Steel in the first round in February, however, opposed the opening of the second round of bids and wanted only the first round of bids to be considered.
Essar Steel is being auctioned after the company defaulted on payment of about Rs 49,000 crore loan to lenders.
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