Tata Metaliks gets Usha Ispat's Redi assets

Tata Metaliks has won the bid to acquire the immovable and movable assets of Usha Ispat (UIL) located at Redi, Maharashtra.

According to a release issued by Tata Metaliks to the BSE today, Stressed Assets Stabilization Fund (SASF) had invited the bids, which were finalised today, and the company has been declared as the highest bidder.

"The physical possession will be transferred and the necessary definitive documentation will be executed as per the procedure set out by SASF," the release added.