Electrosteel steels

Hi

Any one has idea about electrosteel steels. There has been a news(rumor) about tata steel and Vedanta have the plans to acquire ....

 

Is this a new rumor or an old one. Around three weeks back there was a rumor which that Tata Steel was having plans to acquire it. The stock exchange on May 19th sought clarification from the company on same. On 20th May the company responded to the same denying of any talks of sale of the company. For your reference, I am putting the link below of the company's reply which I took from moneycontrol website.

https://www.moneycontrol.com/stocks...o-clarification-sought-byexchange-963476.html

 

Hi Stockguru..I was referring to the same news I guess ....thank you for sharing for the detailed clarification by TATASTEEL..I missed the clarification part .............

 

Electrosteel Steels Limited has informed the Exchange with respect to the media report regarding the sale of the Company. The Lenders / Company has now received indicative Term Sheets for investment in the Company from Tata Group as well as from a Financial Investor based in Singapore. The Bankers of the Company as well as the Company are exploring the proposals of investment.