BUSINESS
India's third largest steel producer, JSW Steel, said on Tuesday it plans to buy a controlling stake in Ispat for $476 million to expand capacity in the country.
Ispat Industries Ltd <ISPT.BO> does not plan to convert pledged shares into equity as of now, executive director Anil Surekha told shareholders at the company's annual general meeting on Tuesday.
India's third largest steel producer, JSW Steel, said on Tuesday it plans to buy a controlling stake in Ispat for $476 million to expand capacity in the country.