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Electrosteel Steels has informed that in continuation of the letter Sec/Share/18-19/07 dated April 17, 2018, and pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, National Company Law Tribunal, Kolkata Bench, on April 17, 2018 has approved the Resolution Plan submitted by Vedanta Limited to acquire the Company pursuant to Corporate Insolvency Resolution Process implemented as per provisions of Insolvency and Bankruptcy Code, 2016 (the Resolution Plan), and the terms of the Resolution Plan are now binding. Pursuant to the Resolution Plan, a wholly-owned subsidiary of Vendata, will subscribe for the share capital of the Company for an aggregate amount of INR 1,805 Crores and provide additional funds aggregating of Rs 3,515 Crores by way of debt. Upon implementation of the Resolution Plan, Vedanta Limited will hold approximately 90% of the paid up share capital of the Company (the 'Transaction'). The remaining 10% of the Companys share capital will be held by the Companys existing shareholders and the financial creditors who receive shares in exchange for the debt owed to them. The funds received by the Company as debt and equity will be used to fully settle the debts owed to the existing financial creditors of the Company, by payment of Rs 5,320 Crores. Completion of the Transaction is conditional upon obtaining applicable regulatory approval including approval from the Competition Commission of India and the Securities and Exchange Board of India.
The above information is a part of company’s filings submitted to BSE.
| Company Name | CMP |
|---|---|
| Tata Steel | 174.00 |
| JSW Steel | 931.45 |
| SAIL | 148.75 |
| Jindal Stainless | 821.50 |
| Jindal Saw | 543.60 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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