Electrosteel Steels announced that the lenders, company has now received indicative term sheets for investment in the company from Tata Group as well as from a financial investor based in Singapore.

The bankers of the company as well as the company are exploring the proposals of investment.

Shares of the company gained Rs 0.52, or 13.79%, to trade at Rs 4.29. The total volume of shares traded was 3,764,069 at the BSE (1.47 p.m., Thursday).