News Roundup: JSW Steel plans to bid for Karnataka iron ore blocks

21 March, 2016

JSW Steel Ltd plans to bid for iron ore mining blocks in Karnataka that could go up for auction after a Supreme Court order last week. JSW and rivals such as Essar Steel have been forced to import iron ore due to a ban on mining in two states of India. The company already has an iron ore joint venture in Karnataka with a production capacity of 2.5 million tonnes per year. ()

HP eyes $1bn sale of MphasiS stake: Hewlett Packard (HP) has formally started work to sell IT services firm MphasiS Ltd with Citigroup managing the process. The PC maker owns 60% stake in Bangalore-based MphasiS, which is worth $900 million (INR 4,853 crore) at current market value. HP would expect a premium to the prevailing price, pushing the deal value to over $1 billion (INR 5,392 crore). Citigroup has been selected to run the sale process after HP had direct talks with a few private equity firms in recent months to ascertain their interest. (The Times Of India)

Tata Sons plans to raise at least 3 billion rupees via bonds: Tata Sons, the holding company of India’s Tata Group, plans to raise at least INR 300 crore ($ 55.17 million) via two separate bond deals. The firm will issue 5-year and 10-year bonds at 8.85%. ICICI Securities Primary Dealership is the arranger to the deal. ()

Windsor Machines plans for acquisition: Windsor Machines Ltd. is looking to acquire Italian company, Italtech through a joint venture firm Wintech S,r.l. The company also incorporated a wholly owned subsidiary, Wintech B.V. in Netherlands, which holds 80% stake in Wintech S,r.l. and the remaining 20% stake would be held by Italian partner Geoplast S.p.a. (BSE)

Courtesy: VCCEdge


Leave Your Comment
News Roundup: NCC in talks with Singapore investor for stake sale in power plant

News Roundup: NCC in talks with Singapore investor for stake sale in power plant

TEAM VCC 4 years ago
Infrastructure and construction company NCC Ltd. is on course to slashing its corporate debt of INR 3,900 crore ($700 million) by about 50% during the...
News Roundup: JSW, JSPL, AV Birla Group seen considering joint bid for Stemcor’s India assets

News Roundup: JSW, JSPL, AV Birla Group seen considering joint bid for Stemcor’s India assets

TEAM VCC 3 years ago
JSW Steel Ltd (JSW), Jindal Steel and Power Ltd (JSPL) and Aditya Birla Group unit Essel Mining and Industries Ltd are considering the possibility of...
Karnataka to auction 14 iron ore mines by June

Karnataka to auction 14 iron ore mines by June

Deepak Kumar Sahu 1 year ago
After almost a three-month lull of iron ore mine auctions in the country, the Karnataka government is set to auction 14 mines in June. These...
No Comments

News Roundup: JSW Steel plans to bid for Karnataka iron ore blocks

Powered by WordPress.com VIP