Tata Steel to raise Rs 16,500 crore debt to fund Bhushan acquisition
Updated : May 22, 2018 04:17 PM IST
The banks, according to industry experts, are expected to take a whopping haircut of about 30-35% in the sale of BSL to an arm of Tata Steel.
The company said Bhushan Steel will have about Rs 16,500 crore of secured debt and it would be contributing significant amount of its own capital into the BSL, so the incremental capital structure will be healthy and sustainable for the future.
Bhushan Steel is currently operating at around 3-3.5 million tonnes, Tata Steel said, adding that it expects the plant to be operational at 4-4.5 MT level quite easily.
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more