Bhushan Steel bids may touch double of liquidation value of Rs 150 bn

Anil Agarwal-owned Vedanta and Sajjan Jindal's JSW Steel set to make aggressive bids

Lenders to Bhushan Steel are expecting Anil Agarwal-owned Vedanta Ltd and Sajjan Jindal’s JSW Steel to make the most aggressive bids — almost double the liquidation value of Rs 150 billion — for the beleaguered company. 

According to lenders, cash-rich Vedanta, which wants to break into the steel industry, has changed the bidding dynamics, with the company pooling in all its resources to make the bids, which might close soon after the Budget next week.

ArcelorMittal and Tata Steel are also likely to submit their bids, but whether they would be willing to invest almost