Jindal Saw set to acquire Sathavahana Ispat under IBC
POWER & RENEWABLE ENERGY

Jindal Saw set to acquire Sathavahana Ispat under IBC

Jindal Saw emerged as the highest bidder, offering approximately Rs 5.30 billion for the insolvent Sathavahana Ispat.

Vedanta was also interested in acquiring the publicly traded steelmaker. According to a company statement, lenders issued a letter of intent to Jindal Saw as a successful resolution applicant. The stock notice makes no mention of Jindal Saw's offer to buy the steel company.

Six other companies, in addition to Jindal Saw, submitted expressions of interest (EOI). According to the RP's disclosures on the company's website, these are Vedanta, Welspun Corp, Sarda Mines, Ares SSG Capital (Singapore), Khandwala Finstock, and Trimex Industries.

Sathavahana Ispat operates a 50 MW captive power plant as well as pig iron and ductile iron pipe plants in Andhra Pradesh and Karnataka.

Also Read
UltraTech plans to increase domestic cement capacity by a third by F..
Adani's backed business aids Ambuja Cements raise Rs 50 billion

Jindal Saw emerged as the highest bidder, offering approximately Rs 5.30 billion for the insolvent Sathavahana Ispat. Vedanta was also interested in acquiring the publicly traded steelmaker. According to a company statement, lenders issued a letter of intent to Jindal Saw as a successful resolution applicant. The stock notice makes no mention of Jindal Saw's offer to buy the steel company. Six other companies, in addition to Jindal Saw, submitted expressions of interest (EOI). According to the RP's disclosures on the company's website, these are Vedanta, Welspun Corp, Sarda Mines, Ares SSG Capital (Singapore), Khandwala Finstock, and Trimex Industries. Sathavahana Ispat operates a 50 MW captive power plant as well as pig iron and ductile iron pipe plants in Andhra Pradesh and Karnataka. Also Read UltraTech plans to increase domestic cement capacity by a third by F.. Adani's backed business aids Ambuja Cements raise Rs 50 billion

Next Story
Infrastructure Urban

Arya Omnitalk Powers India’s Toll Revolution with AI-Driven Solutions

Arya Omnitalk, a leader in intelligent transportation systems, is revolutionising toll collection across India’s national highways with its advanced AI-powered Toll Management Solutions. Designed for rugged remote toll locations, the company’s cutting-edge technology ensures seamless, reliable, and secure tolling—especially during high-capacity operations exceeding 200%. By integrating real-time analytics, cyber protection, and FASTag-based cashless tolling, Arya Omnitalk’s systems are significantly reducing congestion, improving transparency, and enhancing revenue assurance. Its full..

Next Story
Infrastructure Urban

Over 800 Join Anant Raj Runathon to Mark Earth Day

Over 800 participants came together at Anant Raj Estate, Sector 63A, Gurugram, for the Anant Raj Runathon 2025—a vibrant celebration of Earth Day through fitness, community bonding, and sustainability. Curated by renowned running coach Ravinder, the event featured four categories: 10-mile and 5-mile timed runs, a 5-mile walkathon, and a 1-mile kids’ run. Runners of all ages took to the green, scenic roads of the area—some chasing personal bests, others running for a cause. The Runathon was designed to promote healthy living while raising awareness about sustainable practices. Participa..

Next Story
Infrastructure Urban

PETRONAS Lubricants, Quaker Houghton Ink Strategic Deal

In a significant step towards strengthening industrial operations in India and Malaysia, PETRONAS Lubricants India Pvt. Ltd (PLIPL) and Quaker Houghton have announced a strategic partnership aimed at delivering high-performance industrial fluid solutions to key manufacturing sectors, including steel production. The collaboration combines the strengths of both companies—leveraging PETRONAS Lubricants India’s maintenance lubricant technologies and Quaker Houghton’s deep expertise in metalworking fluids. Starting from the second quarter of 2025, Quaker Houghton will begin offering PETRONAS..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?