The Supreme Court ruling quashing Bhushan Power & Steel’s (BPSL) resolution plan has upended JSW Steel’s ₹19,000 crore acquisition. Mint explains the recovery options—from a Supreme Court review to potential government intervention.
Why is it a big blow to JSW?
The Supreme Court ruling invalidating JSW Steel’s ₹19,700 crore acquisition of BPSL is a major blow to its growth ambitions, especially its 2030 target of achieving 50 million tonnes (mt) of steel capacity. JSW paid ₹19,350 crore to settle BPSL’s creditors. BPSL’s Odisha Jharsuguda plant contributed 13% to JSW’s total production and around 10-11% of Ebitda (earnings before interest, taxes, depreciation and…
