Billionaire Anil Agarwal-promoted Vedanta Ltd was also in the fray to acquire the stock exchange listed steel maker. In a statement to the exchange on Monday, the company said lenders issued a letter of intent to Jindal Saw as a successful resolution applicant. The stock notice does not disclose the…

Jindal Saw set to acquire Sathavahana Ispat under IBC for Rs 530 crore

Sathavahana Ispat reports standalone net loss of Rs 11.64 crore in the June 2022 quarter

Sathavahana Ispat reports standalone net profit of Rs 116.51 crore in the March 2022 quarter

P R Jindal unit raises Rs 500 crore from Edelweiss managed fund, ECL at 25% IRR for 5 years to acquire distressed steel company.

Jindal Saw likely to acquire Sathavahana Ispat under the IBC route

Jindal Saw was awarded a contract for carrying out the repair and maintenance of manufacturing facilities of Sathavahana Ispat by Resolution Professional under appointed under the Insolvency and Bankruptcy Code, 2016.

Jindal Saw bags a deal for repairing and maintaining facilities of Sathavahana Ispat

The contract was by Resolution Professional appointed under the Insolvency and Bankruptcy Code, 2016.

Jindal Saw bags contract for repair and maintenance of Sathavahana Ispat facilities

Sathavahana Ispat reports standalone net loss of Rs 131.23 crore in the March 2021 quarter

J C Flower ARC shall now have all the rights and privileges on the debt earlier owed by the Company to the Banks.

SBI, Canara Bank, Union Bank of consortium gives Sathavahana Ispat debt to JC Flower ARC

A consortium comprising Canara Bank, State Bank of India, Union Bank and IFCI had called for bids for sale of the debt.

At ₹410 crore, JC Flowers highest bidder for Sathavahana Ispat debt

Lenders consortium considers Swiss Challenge to discover better price

Among four bids, JC Flowers ARC emerges as top bidder for Sathavahana Ispat at ₹410 crore

Sathavahana Ispat, which manufactures pig iron and ductile pipes, owes ₹1,381 crore to a consortium of four lenders led by Canara Bank. The debt was tagged as non-performing in the lenders’ books over three years ago

JC Flowers is highest bidder for SIL’s debt

Hasn't faired well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Profitability and efficiency haven't been upto the mark

Profitability

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

The stock has a moderate number of red flags

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Sathavahana Ispat Limited is engaged in the iron and steel industry, and power generation. The Company focuses on the manufacture and sale of pig iron, ductile iron pipes and metallurgical coke.