Comments
Several companies have signed non-disclosure agreements with Usha Martin Ltd for taking over its steel business, a company official said on Tuesday.
The interested firms include the likes of Vedanta, JSW, Liberty, Tata Steel and the Kalyani Group, MD Rajeev Jhawar told reporters after Usha Martin’s AGM here.
The company is engaged in the businesses of steel production and wire ropes.
Reeling under huge debt, Usha Martin had decided to hive-off its steel business in June this year after due diligence.
“By the end of this month, we are hoping to get offers from bidders,” Jhawar said.
He said reviving the company was a priority of the management, and it hopes to be in “dividend list” next year.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.