JSW Steel bags ₹12,000 crore SBI loan for Bhushan Power acquisition

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AuthorIshaan Verma|Published at:
JSW Steel bags ₹12,000 crore SBI loan for Bhushan Power acquisition
Overview

JSW Sambalpur Steel Limited secured a ₹12,000 crore loan from State Bank of India. The funds will finance the acquisition of Bhushan Power & Steel's business through a slump sale. Khaitan & Co advised JSW.

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JSW Steel Funds Bhushan Power Acquisition with ₹12,000 Cr SBI Loan

JSW Sambalpur Steel Limited has finalized a ₹12,000 crore term loan facility from State Bank of India (SBI). This funding will finance the acquisition of Bhushan Power & Steel Limited's business through a slump sale, allowing it to operate on a going concern basis.

Strategic Move to Boost Capacity

This financing is a key step in JSW Steel's strategy to strengthen its market position and expand operational capacity. Acquiring Bhushan Power & Steel's assets will allow JSW to use existing infrastructure and market access, aiming for synergies and greater efficiency. The deal is set to boost JSW's production capabilities and product offerings.

Khaitan & Co Advised on Deal

Law firm Khaitan & Co advised JSW Sambalpur Steel on the transaction. Partners Manisha Shroff and Arijit Sarkar led the team, providing legal guidance for the financing and acquisition process. Senior Associate Siddhant Shetty and Associates Nilanjan Kumar and Shivansh Jain were also part of the advisory team. Numerous professionals from JSW and SBI contributed to finalizing the deal.

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