Usha Martin shareholders approve sale of steel biz to Tata Steel
Wire ropes manufacturer Usha Martin's shareholders on Saturday approved the sale of the company's steel business to Tata Steel, with 99.99% shareholders voting in the favour of the decision. Earlier, Tata Steel said it has executed definitive agreements for the acquisition of Usha Martin's business for â¹4,300-4,700 crore. Usha Martin is hoping to reduce its debt with the sale.