Bankers are expecting three hot contenders for the debt-laden Ruia-promoted Essar Steel when it comes up for the second round of bidding. Only companies who had put in their expression of interest (EOI) in the first round will be allowed to bid, bankers said. Essar Steel will fit into this scheme. It has now sold it back to its promoters, the Miglani family's Sainath Trading Company, in order to clear its way for Essar Steel bidding. OSPIL is the largest slurry pipeline in India that supplies iron ore from mines in Odisha to Essar Steel.

Source: dna April 01, 2018 23:26 UTC