Lakshmi Mittal-controlled Arcelor Mittal sweetened its bid for Essar Steel by offering an additional equity infusion of Rs 8000 crore over and above the Rs 42000 crore it promises to pay for acquiring the bankrupt steelmaker. The move raises Arcelor Mittal’s total bid for Essar Steel to Rs 50000 crore.
In FY17, the latest year for which financials are available, Essar Steel earned an Ebitda of Rs 2841 crore, but depreciation alone amounted to Rs 1903 crore. Ebitda stands for earnings before interest, tax, depreciation and amortization. Its interest cost in that year was Rs 5608 crore and it ended FY17 with a net loss of Rs 5198 crore. But FY18 financials may look better, based on how listed firms have fared.
Essar Steel’s manufacturing facility comprises ore beneficiation, pellet making, iron making, steel making, and downstream facilities including cold rolling mill, galvanising, pre-coated facility, steel processing facility, extra wide plate mill and a pipe mill.
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Shares of Essar Steel are delisted from the stock exchanges and its shares are not traded on stock exchanges. These shares can’t be sold in secondary market under normal rolling settlement. We are providing an exit option to such investors by buying these physical and/or demat shares.
We provide on the spot payment and doorstep collection service all over India. Please call and ask for our counter offer against buy/sell offer price given by any other individual or company. We are regular buyers in all other physical and demat unlisted shares. We are regular buyers in all other physical and demat unlisted shares.