Bansal Wire Industries Limited (BANSALWIRE) agreed to acquire the remaining 23.85% stake in Bansal Steel & Power Limited from existing shareholders for approximately USD 510M on July 31, 2024. A cash consideration of USD 509M will be paid by Bansal Wire Industries Limited. As part of the consideration, USD 509M is paid towards the common equity of Bansal Steel & Power Limited. Upon completion, Bansal Wire Industries Limited will own a 100% stake in Bansal Steel & Power Limited. The transaction is subject to the approval of an offer by the acquirer board. The deal has been approved by the board. The expected completion of the transaction is within 30 days.
Bansal Wire Industries Limited (BANSALWIRE) completed the acquisition of the remaining 23.85% stake in Bansal Steel & Power Limited from existing shareholders on August 8, 2024.
