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Mergers & Acquisitions | 9 June 2011

Bhushan Power Acquires 14.77% Stake In Nova Iron & Steel

by Charmi Gutka
Bhushan Power Acquires 14.77% Stake In Nova Iron & Steel
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Bhushan Power And Steel Limited has bought 14.77% stake in Nova Iron And Steel Limited for Rs.26.05 Cr through open market transaction.

Bhushan Power bought 22.25 Mn shares at Rs.11.71 per share through bulk deal on BSE. It is also planning to acquire controlling stake in the company and plans to make an open offer in the long-term.

Transaction Reference: BSE


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