 "IBC process: Bhushan Power is JSW Steel's most aggressive, biggest lone bet")
JSW Steel group on Friday closed the Rs 19,350-crore transaction with lenders to acquire Bhushan Power & Steel (BPSL), bringing down the curtain on a corporate insolvency resolution process (CIRP) that has stretched over three-and-a-half years.
The transaction was funded through a mix of equity and debt. As part of the payment, a sum of Rs 8,614 crore in Piombino Steel (PSL) was arranged through a mix of equity, optionally convertible instruments and debt. Of this, Rs 8,550 crore was invested in a special purpose vehicle (SPV), Makler, the bidding company. The remaining Rs 10,800 crore was funded through
The transaction was funded through a mix of equity and debt. As part of the payment, a sum of Rs 8,614 crore in Piombino Steel (PSL) was arranged through a mix of equity, optionally convertible instruments and debt. Of this, Rs 8,550 crore was invested in a special purpose vehicle (SPV), Makler, the bidding company. The remaining Rs 10,800 crore was funded through
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