Evonith Steel acquires Indrajit Power in Maharashtra for Rs 232 cr
Evonith Steel has successfully acquired Indrajit Power Pvt Ltd for Rs 232 crore. This acquisition was completed through an insolvency process. The 85 MW thermal asset will now support Evonith Steel's power needs. The National Company Law Tribunal ...
By PTI |
New Delhi: Evonith Steel on Friday announced the acquisition of Indrajit Power Pvt Ltd (IPPL) through an insolvency process for Rs 232 crore.
The acquisition of 85 MW thermal asset will support its power requirements, Evonith Steel said in a statement.
"Evonith Steel was approved as the successful Resolution Applicant (SRA) by the National Company Law Tribunal (NCLT) on April 20," the statement said.
It has completed the acquisition of IPPL Maharashtra for Rs 232 core through Insolvency and Bankruptcy Code (IBC) process, the statement added.
IPPL is located adjacent to the Evonith Steel's 1.4 million tonne capacity plant in Wardha, Maharashtra.
The acquisition of 85 MW thermal asset will support its power requirements, Evonith Steel said in a statement.
"Evonith Steel was approved as the successful Resolution Applicant (SRA) by the National Company Law Tribunal (NCLT) on April 20," the statement said.
It has completed the acquisition of IPPL Maharashtra for Rs 232 core through Insolvency and Bankruptcy Code (IBC) process, the statement added.
IPPL is located adjacent to the Evonith Steel's 1.4 million tonne capacity plant in Wardha, Maharashtra.
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