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Ispat Industries will be renamed as JSW Ispat Steel

Tuesday 5th Jul 2011 1369

New Delhi : PTI reported that Ispat Industries will be renamed as JSW Ispat Steel.The company after the EGM said that Ispat Industries cleared the resolution.It is still not clear whether JSW will merge Ispat Industries with itself.

JSW had bought 41% in Ispat Industries at INR 2,157 crore and increased the holding close to 49%. JSW was in the process of restructuring its INR 7,000 crore debt for it to exit Corporate Debt Restructuring.

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