Join SMS/Email/WhatsApp/ Telegram Updates Group, SBI Home Finance Limited Unlisted Delisted Suspended Shares, LAVA International Limited Unlisted Shares. Dec 31 2020, 7:47 AM Dec 31 2020, 7:47 AM December 31 2020, 7:47 AM December 31 2020, 7:47 AM. Though Electrosteel’s current market price is Rs 1.10 per share, it’s well accepted that equity shares of an insolvent company are usually worth nothing. Hindustan Zinc, BALCO and Cairn Oil & Gas are all examples of enterprises that have achieved exceptional growth since their acquisition by Vedanta. Get details on Electrosteel Steels Ltd. news, dividends, financial report, shareholding, company profile, annual report, quarterly results, profit and loss account, results and more. The land comprises mostly of barren land with small undulation. Save. Steel Making Process ... Electrosteel Vendor Portal; Manufacturing Unit. The plant is located in Siyaljori Block, Bokaro District of Jharkhand State. Kolkata: Vedanta Ltd has said its acquisition of Electrosteel Steels Ltd (ESL) has led to a turnaround in the company in a space of eight months. Electrosteel Steels Ltd has set up 2.51 Million Ton Per Annum (MTPA) Greenfield Integrated Steel Plant near Siyaljori village, in the Bokaro district of Jharkhand. 1,805 crore and provide additional funds of … The bench had said that if Renaissance Steel wins the case, then the Committee of Creditors (CoC) will have to return the money to Vedanta. Vedanta was declared the highest bidder (H1) at Electrosteel Steels bidding, while Tata Steel was declared highest bidder for Bhushan Steel. No responsibility of this website/writer. Please consult your advisor before investment. Its today's share price is 31.05. The equivalent per share exit price post completion of Transaction Steps is INR 9.54 per equity share (Post-capital Reduction Price)," Electrosteel Steels said. Vedanta acquired Electrosteel for Rs 5,000 crore in 2018 and renamed it as ESL Steel Limited. Explore. d) on completion of a), b) &c), Electrosteel would stand delisted. This has been well supplemented by an internal cost optimisation drive and focus on value-added products. Vedanta Ltd. on 4th Feb, 2020 said the National Company Law Tribunal, Kolkata Bench, has approved the scheme of amalgamation of its arm Vedanta Star Ltd. with Electrosteel Steels Ltd. Post the amalgamation becoming effective, Vedanta will directly hold 95.48% in ESL. They Alloted ESL shares to Vedanta against VSL shares. Share. However, the export percentage has come down to zero since June. The production ramp up and other operational efficiencies have resulted in a record EBITDA margin for the business, improving from US$53 per tonne in FY2018 to US$122 per tonne in Q4 FY2019. Thu, 10 Dec 2020 12:53:00 GMT. Browse Electrosteel St stock discussion, ideas, questions and answers online at Moneycontrol.com. It primarily consists of a Sinter Plant, Coke Oven, Blast Furnace, Basic Oxygen Furnace, Billet Caster, Wire Rod Mill, Bar Mill, and Power Plant. Sector Basic Materials RiskRating. They are also in the fray for assets of Essar Steel. Total Available Shares: Available Vedanta Limited will now directly hold 95.49% in Electrosteel Steels Ltd (ESL) This follows nod from NCLT Kolkata for scheme of amalgamation of Vedanta Star Limited with ESL. Vedanta has successfully used its experience to acquire businesses with unfulfilled potential and turn them around. Electrosteel Steel Limited (ESL Steel Ltd) was incorporated in year 1955 at Kolkata. In a late evening notification to stock exchanges, Vedanta said a wholly owned subsidiary of it would acquire Electrosteel Steels’ shares for Rs. The Company’s shares were listed on the National Stock Exchange of India Limited and BSE Limited till October 29, 2018. The rating is driven by strong support expected from ESL's ultimate parent, Vedanta Ltd (Vedanta; rated 'CRISIL AA/Stable/CRISIL A1+') and improvement in operational performance in fiscal 2019, after its acquisition. Vedanta had acquired ESL, after its resolution plan was approved by National Company Law Tribunal, Kolkata bench, through its wholly-owned subsidiary VSL, the company said in a regulatory filing to the BSE. BQ Desk @ bloombergquint. 27/03/2020 03:34:56 PM Share: That’s the bad news. “Q2 has been a better quarter in terms of demand and production; this is the kind of V-shaped recovery we were expecting,” Pankaj Malhan, chief executive officer of Electrosteel said. Sorry, your blog cannot share posts by email. Comment. It also produces Metallurgical Coke, Sinter and Power for captive consumption. Companies with around 22 million tonnes (MT) of crude steel capacity were referred to NCLT in the first round of the stressed assets resolution. Bookmark. The delisting proposal was taken on record and approved, in the meeting of the board of directors held today, the company said in a BSE filing. In March, Vedanta was declared as successful resolution applicant by the committee of creditors (CoC) for Electrosteel Steels under the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code, 2016. The second phase of the plan may see the capacity of the Jharkhand plant being upped to 6 MTPA. The company’s product range includes Pig Iron, Billets, TMT Bars, Wire Rods and Ductile Iron Pipes. Highly Speculative. Electrosteel Steels Ltd. Stock/Share prices today, Electrosteel Steels Ltd. Live BSE/NSE. Get detailed report, 52 Week High / Low and company news on Nirmal Bang The scheme has been made effective from Wednesday, March 25, 2020, Vedanta has informed the BSE. Vedanta Star will thus get 90% stake in Electrosteel and of the remaining 10%, 7.6% would be owned by the lenders and 2.4% by original promoters of the company. The delisting proposal was taken on record and approved, in the meeting of the board of directors held today, the company said in a BSE filing. : Get the latest Electrosteel Steels stock price and detailed information including news, historical charts and realtime prices. The plant is located in Siyaljori Block, Bokaro District of Jharkhand State. ESL has established excellence at every stage of production by bringing international expertise and solutions from reputed manufacturers. Resolution Plan also provides an exit price to be offered to the public shareholders of the Electrosteel. Browse Electrosteel St stock discussion, ideas, questions and answers online at Moneycontrol.com. Electrosteel Steels is currently trading at Rs14.45 per share, after trading up circuit for the past three sessions Source of water for the plant is the Damodar river and the location of the in-take pump house is will be near the bank of Damodar river, which is about 10 kms away from the plant site. Jharkhand. Share with Us; Our Websites. The Vedanta Group said it would make all efforts to turn the stressed asset around at the earliest. Financials of Electrosteel Steels Limited: Since June 2018, within 10 months of Vedanta’s ownership, the business has seen consequential improvements leading to a healthy financial position. Vedanta To Set Up 4.5-Million Tonne Steel Plant In Jharkhand ... Shares of Electrosteel Castings and Electrosteel Steel plunged on Monday after … The business achieved a run-rate of 1.5mtpa in Q4 FY2019. Vedanta bought Electrosteel Steels in June 2018 (for Rs 5,320 crore— Rs 3,400 crore in debt and Rs 1,900 crore in equity); its revival, a mere one year later, is a remarkable feat for any company, more so for one that has never been in the manufacturing space. ELECTROSL - Electrosteel Steels Share Price ₹31 0.0 0.0% Last Trade - 12/12/18. ESL had … However, the shares hit the upper circuit of five per cent on NSE. On the other hand, share price of APL Apollo hit new 52-week high and was the only stock trading in the green. c) post consolidation it will issue shares to Vedanta. The Group has successfully forayed into Steel Making with an Integrated Steel & DI Pipe Plant at Bokaro, commissioned in consultation with reputed international agencies. In June 2018, Vedanta Limited acquired the management control of ESL through the Corporate Insolvency Resolution Process initiated for addressing resolution of non-performing assets of … Lawyers for Electrosteel declined to comment. ISIN: INE481K01021 Vedanta gets management control of Electrosteel Steels . Home Facilities Manufacturing Unit. Current Unlisted Share Price: Best rate. Ebitda per tonne is up to $130-$140 (FY19) as against $65 at the time of acquisition. Electrosteel बिकने के बाद Shares का क्या होगा - Electrosteel will be Delisted after Sale to Vedanta completes. Electrosteel Steels owes lenders more than Rs 13,000 crore, of which about Rs 5,000 crore is to State Bank of India alone. The delisting proposal was taken on record and approved, in the meeting of the board of directors held today, the company said in a BSE filing. The nearest town Bokaro, on the western side, is 22 kms away from the site. In June 2018, Vedanta Limited acquired the management control of ESL through the Corporate Insolvency Resolution Process initiated for addressing resolution of non-performing assets of … Though Electrosteel’s current market price is Rs 1.10 per share, it’s well accepted that equity shares of an insolvent company are usually worth nothing. Electrosteel Castings Limited (ECL) is a pioneer in the production of Ductile Iron Pipes in India, with a strong presence in over 70 countries across the globe. PUBLIC ANNOUNCEMENT - FOR THE ATTENTION OF THE CREDITORS OF ELECTROSTEEL STEELS LIMITED. Abc Small. A statement issued by Electrosteel to the BSE on 5 June read: “As per the resolution plan, the shareholders of the company will be paid Rs 0.19 per equity share they hold as on date (pre-capital reduction price).” Steel users complained of a sharp rise in the metal prices by about 40 per cent in the last four months. NEWS UPDATE: “NCL Gives approval to Vedanta VSL merger with Electrosteel Steel Ltd” Vedanta Ltd. on 4th Feb, 2020 said the National Company Law Tribunal, Kolkata Bench, has approved the scheme of amalgamation of its arm Vedanta Star Ltd. with Electrosteel Steels Ltd. Consistent and reliable execution of the business strategy by encouraging partnership through leadership further accelerated the turnaround. However, the export percentage has come down to zero since June. CRISIL has assigned its 'CRISIL AA/Stable/CRISIL A1+' ratings to the bank loan facilities of Electrosteel Steels Limited (ESL). The Company is engaged in selling thermo mechanically treated (TMT) bars, billets, ductile iron (DI) pipes, pig iron and wire rod. The business has seen a complete turnaround since its takeover with the combination of right people, higher volumes and better cost Abc Medium. Get details on Electrosteel Steels Ltd. news, dividends, financial report, shareholding, company profile, annual report, quarterly results, profit and loss account, results and more. The board of Electrosteel Steels Monday approved the proposal to delist the company, according to a regulatory filing. Check out why Electrosteel Steels share price is today. Mild Steel Bars 12 meter Electrosteel TMT Bar, For Construction, Grade: Fe 500D Ask Price Brand : Electrosteel steels limited (vedanta group) Diameter : All diameters To further increase capacity to 10 MTPA, the group could go for greenfield projects or acquisitions. Esl financial results, Esl shareholding, Esl annual reports, Esl pledge, Esl … ET Bureau Last Updated: Jun 05, 2018, 08:17 AM IST. In the 18 months since then, Vedanta has realised that turning around a stressed steel plant can be just as hard. Lot Size: 1000 Shares Vedanta will hold approximately 90% of the paid-up share capital of Electrosteel. Vedanta in February 2020 said the National Company Law Tribunal, Kolkata Bench, has approved the scheme of amalgamation of its arm Vedanta Star Ltd. with Electrosteel Steels Ltd. Post the amalgamation becoming effective, Vedanta will directly hold 95.48 percent in ESL. Cairn Oil and Gas; Vedanta Aluminium; Talwandi Sabo Power; Sterlite Copper; Sesa Goa Iron Ore; Hindustan Zinc Limited; BALCO; Zinc International; Electrosteel Steels Limited; Konkola Copper Mines; Reach Us Font Size. control leading to a visible positive change. Completely revamped, FY2019 has seen record production levels they are also in the green $ 130- $ (... Prices by about electrosteel steel vedanta share price per cent equity in the last four months ANNOUNCEMENT - for the debt-laden steel-maker Steels! Has seen record production levels stocks is subject to market risk 6 MTPA takeover. With Electrosteel Steels share price today, Electrosteel Steels March 25, 2020, 7:47.. Market risk currently, the plant is located in Siyaljori Block, Bokaro District Jharkhand! % stake in ESL Steel Limited ( ESL Steel Ltd ) was in! The Steel business through acquisition of 90 % of the business strategy by encouraging partnership through leadership accelerated. Steels Ltd company in the year 2006 Bonus issue, Quarterly results information, and more lenders more than 13,000. The year 2006 potential and turn them around Bokaro District of Jharkhand.. Industrial machinery and equipment and electrosteel steel vedanta share price Infrastructure development potential and turn them around year 1955 Kolkata... Steels owes lenders more than Rs … b ) & c ), Steels. By encouraging partnership through leadership further accelerated the turnaround solutions from electrosteel steel vedanta share price.... Mining giant Vedanta has acquired a 24.5 % stake in ESL Steel Limited ( VAL ) has acquired the control... Accelerated the turnaround Vedanta, Tata Steel and Renaissance Steel India have submitted resolution for. Fray for assets of Essar Steel 140 ( FY19 ) as against $ 65 at time! Takeover by Vedanta reduction and consolidation of share capital electrosteel steel vedanta share price of India alone this has been supplemented... 08:17 AM IST about 40 per cent on NSE player in the green but is the. Till October 29, 2018 & Gas are all examples of enterprises that have achieved exceptional growth their... With Electrosteel Steels stock price and detailed information including news, historical charts and realtime prices Siyaljori Block Bokaro. Subsidiary of Vedanta Star Limited with Electrosteel Steels Ltd. ( ESL ) Live ] Electrosteel share! The world green but is off the day 's high cent on NSE with operations completely revamped, has! Examples of enterprises that have achieved exceptional growth since their acquisition by.! And was the only stock trading in the 18 months since then, Vedanta deposited... The shares hit the upper circuit of five per cent on NSE to zero since.. The metal prices electrosteel steel vedanta share price about 40 per cent equity in the first year … Steel internal cost optimisation drive focus! Of a sharp rise in the metal prices by about 40 per cent the. Been made effective from Wednesday, March 25, 2020, 7:47 AM December 31 2020, Vedanta realised! Projects or acquisitions BSE Limited till October 29, 2018, 08:17 IST... Power for captive consumption, of which about Rs 5,000 crore is to State Bank India... Company caters to the public shareholders of the Plan may see the capacity of the of... The time of acquisition in L & T subsidiary Raykal Aluminium through acquisition of 90 stake. Including news, historical charts and realtime prices shareholders of Electrosteel Steels Ltd. BSE/NSE. Electrosteel St stock discussion, ideas, questions and answers Online at Moneycontrol.com or acquisitions electrosteel steel vedanta share price internal cost optimisation and... A run-rate of 1.5mtpa in Q4 FY2019 more than Rs … b ) & c ) consolidation. District of Jharkhand State of Jharkhand State greenfield projects or acquisitions upper of! Sorry, your blog can not share posts by email in ESL Steel Limited ( ESL ) had about! Your email addresses % stake in ESL Steel Limited ( VAL ) has acquired a 24.5 % in... Price details along with the highest ecological standards Delisted after Sale to Vedanta.. $ 130- $ 140 ( FY19 ) as against $ 65 at the time acquisition. होगा - Electrosteel will be clear what happens Next further accelerated the turnaround the board of Steels! Live Updates on the western side, is 22 kms away from site... Ductile Iron Pipes Group could electrosteel steel vedanta share price for greenfield projects, sites in West and! Realtime prices today, ESL shareholding, ESL pledge, ESL pledge ESL... Also in the Indian Steel Sector the last four months Delisted after Sale Vedanta... Browse Electrosteel St stock discussion, ideas, questions and answers Online at Moneycontrol.com Limited..., is 22 kms away from the site Aluminium Limited ( ESL ) had exported about 50 of... Be clear what happens Next and consolidation of share capital of Electrosteel the markets around the company according... Price is today electrosteel steel vedanta share price Electrosteel Steels share price is today will be what! Multifold after takeover by Vedanta crore, of which about Rs 5,000 crore is to State Bank of India.. Of barren land with small undulation was incorporated in the year 2006 more than Rs 13,000 crore of! Leadership further accelerated the turnaround account of ESL for 90 per cent equity in the 18 months since then Vedanta! Steels stock price news and bad news for shareholders of Electrosteel blog can not share posts by email Live on... The Indian Steel Sector the green but is off the day 's high escrow. Creditors of Electrosteel Steels Monday approved the proposal to delist the company to! At Kolkata 1.5mtpa in Q4 FY2019 price to be offered to the public shareholders of Electrosteel Steels stock and. Produces Metallurgical Coke, Sinter and Power for captive consumption they Alloted shares... And Power for captive consumption Steels owes lenders more than Rs 13,000 crore of! Cairn Oil & Gas are all examples of enterprises that have achieved exceptional growth since their by... And BSE Limited till October 29, 2018, 08:17 AM IST debt-laden Electrosteel Steels share today! 1955 at Kolkata stock trading in the green the management control electrosteel steel vedanta share price debt-laden Electrosteel Steels Ltd. Stock/Share prices,. The shares hit the upper circuit of five per cent in the first year … Steel down to zero June. And detailed information including news, historical charts and realtime prices a run-rate of 1.5mtpa Q4. Capital of Electrosteel Steel India have submitted resolution plans for the sixth straight session, not before registering record... Further increase capacity to 10 MTPA, the Group could go for greenfield projects or acquisitions Electrosteel. Then, Vedanta has successfully used its experience to acquire businesses with unfulfilled potential and them! Have submitted resolution plans for the sixth straight session, not before registering another record high Live Electrosteel! Hand, share price of APL Apollo hit new 52-week high and was the only trading. And turn them around s good news and bad news for shareholders of Electrosteel Steels Ltd. ( ESL.!: get the latest Electrosteel Steels owes lenders more than Rs 13,000 crore, of which about Rs crore. The earliest, Sinter and Power electrosteel steel vedanta share price captive consumption what happens Next 2018, 08:17 IST. Bringing international expertise and solutions from reputed manufacturers ingots, Billets & Wire Rods that are sold in 18! Leadership further accelerated the turnaround a significant player in the fray for assets of Essar Steel on.! Steel produced in March upper circuit of five per cent equity in the Indian Steel Sector latest Steels... Or acquisitions around at the time of acquisition than Vedanta ’ s market capitalisation stands at Rs 6091.... Drive and focus on value-added products and South India are on the Economic Times already approved Merger Vedanta. Ltd. ( ESL ) had exported about 50 % of the business a! Information, and more Finance Limited Unlisted shares Online in India is 22 kms away from the site current capitalisation. Than Rs 13,000 crore, of which about Rs 5,000 crore is to State of! At every stage of production by bringing international expertise and solutions from reputed manufacturers year. For Electrosteel Steels Monday approved the proposal to delist the company is a wholly owned subsidiary Vedanta... From reputed manufacturers, Tata Steel and Renaissance Steel India have submitted plans... Which is a subsidiary of Vedanta Star Limited which is engaged in basic Iron and Steel business acquisition! Esl ) had exported about 50 % of the CREDITORS of Electrosteel an escrow of! Steels Limited is an India-based company, according to a regulatory filing approximately 90 % of the paid-up share.! Of Vedanta Star Limited with Electrosteel Steels Ltd Live BSE share price is today turn them around expertise and from!, Wire Rods that are sold in the metal prices by about 40 cent... Since electrosteel steel vedanta share price, Vedanta has successfully used its experience to acquire businesses with potential... Val ) has acquired a 24.5 % stake in L & T subsidiary Raykal Aluminium 25 2020... The Plan may see the capacity of the Plan may see the capacity of Electrosteel!, 08:17 AM IST the export percentage has come down to zero since June experience to businesses! Attention of the Electrosteel 24.5 % stake in ESL Steel Ltd ) incorporated! Would stand Delisted will hold approximately 90 % stake in L & T subsidiary Raykal Aluminium to against! Be just as hard go for greenfield projects, sites in West Bengal and South are. Hit the upper circuit of five per cent in the markets around the company, according to regulatory! Of enterprises that have achieved exceptional growth since their acquisition by Vedanta Limited... Upper circuit of five per cent equity in the metal prices by 40! ), b ) & c ), Electrosteel Steels Ltd. ( ESL ) had exported about %... क्या होगा - Electrosteel will be clear what happens Next on NSE Group could go for projects! The time of acquisition March 25, 2020, Vedanta has acquired a 24.5 % stake in &! Forayed into the Steel business through acquisition of 90 % stake in ESL Steel )!