Date:9/6/11,
M&A,
Bhushan Power And Steel Ltd acquires 14.77% stake in Nova Iron And Steel Ltd for INR 260.5 million, via open market transaction.
Nova Iron & Steel Ltd owns and operates iron and steel plants and also provides product separation, screening, and storage facilities.
Bhushan Power & Steel Ltd formed consequent to the merger of Bhushan Industries Ltd (BIL), Bhushan Metallics Ltd (BML) and Decor Steel Ltd (DSL) in 1999. manufactures crude steel and various upstream and ownstream value-added steel products.
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