Vedanta enters steel, buys Electrosteel for â¹5,320 crore
Billionaire Anil Agarwal's Vedanta has acquired bankrupt Electrosteel Steels for â¹5,320 crore, marking its entry into the steel business. This is the second company in the first 'dirty dozen' list issued by the RBI to be sold to new owners under the Insolvency and Bankruptcy Code (IBC). Last month, Tata Steel completed its â¹35,200-crore acquisition of Bhushan Steel.