Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
30 October, 2020 11:41 IST
Vedanta invests Rs 53.20 bn in Electrosteel Steel
Source: IRIS | 05 Jun, 2018, 10.10AM
Rating: NAN / 5 stars.
Comments  |  Post Comment

Vedanta announced that its wholly owned subsidiary, Vedanta Star (VSL) has deposited the upfront amount of Rs 53.20 billion in escrow account of Electrosteel Steel (ESL) and June 04, 2018 has been determined to be the 'Effective Date' under the Resolution Plan. The company has acquired control over ESL and new board of directors has been put in place.

The investment from VSL in ESL shall be done through a combination of equity of Rs 17.65 billion and inter-corporate loan of Rs 35.55 billion.

Shares of the company declined Rs 2.25, or 0.91%, to trade at Rs 244.05. The total volume of shares traded was 102,558 at the BSE (9.59 a.m., Tuesday).



 Post Comment
Name Email
Comment
Security Code type    into this box
Related Articles
Persistent Systems - 29-Oct-2020 21:46
Persistent Systems - 29-Oct-2020 21:46
Titan Company quarterly earnings fall 37.81% - 29-Oct-2020 14:27
Titan Company quarterly net declines 37.81% - 29-Oct-2020 14:24
Titan Company quarterly profit drops 37.81% - 29-Oct-2020 13:58
Sensex falls 225 points - 28-Oct-2020 14:11
sensex trades lower - 28-Oct-2020 13:08
sensex opens higher - 28-Oct-2020 12:20
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer