#Sajjan Jindal on mumbai

[telugutimesdigimedia]

KTR with industrial giants

Telangana State Industries and IT Minister K Tarakarama Rao met with famous industrialists who do not need any introduction in the world industry and invited them to invest in Telangana. Tata Group Chairman Natarajan Chandrasekaran, JSW Managing Director Sajjan Jindal, Hindustan Unilever Limited Managing Director Sanjeev Mehta, RPG (Rama Prasad Goenka) Group Managing Director Ananth Goenka. Minister KTR recently met with such legendary industrialists in Mumbai and asked them to invest in the state. KTR went to Mumbai for the Formula Race event and had a busy time. Without wasting time, they tried to involve the industrial giants of the country in the development of the state.

[reportwire]

'This city has so much energy': Here’s what JSW Group’s Sajjan Jindal has to say about Mumbai

‘This city has so much energy’: Here’s what JSW Group’s Sajjan Jindal has to say about Mumbai

JSW Group Chairman and Managing Director Sajjan Jindal owes a lot of his success and his company’s high points to India’s maximum city – Mumbai. Jindal believes the city has so much energy and power and that it is not only about money and/or politics.  “I give a lot of credit to Mumbai for whatever our family has done and wherever I have, you know, how I have succeeded or whatever I’ve achieved…

[thenetionalnews]

Sajjan Jindal's JSW Infrastructure plans public listing by March 2024

Sajjan Jindal’s JSW Infrastructure plans public listing by March 2024

JSW Infrastructure Ltd., a unit of tycoon Sajjan Jindal’s steel-to-cement conglomerate, is planning an initial public offering by March 2024. The Mumbai-based company, which operates seaports and terminals, will soon start the process of engaging investment bankers and professional agencies to facilitate the listing, Joint Managing Director Arun Maheshwari said in an interview. The firm will…

[newsresults]

Metal giants in race for Uttam Galva - Times of India

Metal giants in race for Uttam Galva – Times of India

MUMBAI: Metal billionaires Lakshmi Mittal, brothers Sajjan Jindal & Naveen Jindal, and Anil Agarwal (of Vedanta) have shown an interest in Uttam Galva Steels, which has been put on the block by lenders. Mittal has the highest exposure to Uttam Galva’s liabilities of Rs 9,742 crore, followed by other financial and operational creditors. Phoenix Asset Reconstruction Company (ARC), owned by Kotak…

[wikilistia]

List of Richest Person from Haryana  with their net worth

Haryana is situated in North India, and it is also known for his agricultre. Haryana is also known for businessman, actor, religion, and many other  things. There are many actors born in Haryana and they make Haryana fell proud.  Haryana is a state where all the religion live together, and they all live happily.  In the above description, we talk about the Top 10 Rihest Person In Haryana. So, the list of Top 10 Richest person In Haryana are as following:

1. Ramdev (Yoga Guru) Baba Ramdev is an Indian Yoga Guru, he is also a Businessman.  HIs full name is Ramkishen Yadav and he was born in the year 1965 in Mahendragarh Haryana India.  He is the co-founder of Patanjali Ayurved, Patanjali Yogpeeth, Bharat Swabhiman Trust.  In 2015, the Haryana Government appointed Bana Rmadev as a  brand ambassador of Yoga and Ayurveda.

Occupation: Yoga Guru and Co-founder of Patanjali

Birth Place: Mahendragarh Haryana India

Estimated Net Worth: $2.5 Billion 

2. Om Parkash Jindal Om Parkash Jindal is a successful Businessman. He was born in the year 1930 in Hissar Punjab India.  He was awarded by the  "Life Time Achievement Award" for his outstanding contribution to the Indian Steel Industry by the Bengal Chamber of Commerce and Industry.  He died in the year 2005 at a age of 74.

Occupation: Businessman

Birth Place: Hisar Punjab Inda

Estimated Net Worth: $6.2 Billion

3.Sajjan Jindal Sajjan Jindal is an Indian Enterpreneur and he was born in the  year 1959 in Hisar Punjab India.  He is one of the sons of Indian Businessman Om Parkash Jindal.  in 2014, he was awarded by the National Metallurgist Award: Industry” instituted by the Ministry of Steel, Government of India.

Occupation: Indian Entrepreneur

Birth Place: Hisar Punjab India 

Estimated Net Worth: US $5.1 Billion

4. Randeep Hooda Randeep Hooda is a Bollywood actor, and he was born in the year 1976 in Rohtak Haryana India. He made his acting debut in the year 2001 and still he is working in Bollywood Film Industry. He has done many films like D, Risk,  and many other films. He has won many awards like Lions Golds Awards and many other.

Occupation: Indian Actor

Birth Place: Rohtak Haryana India

Estimated Net Worth: $10 Billion

5. Satish Kaushik Satish Kaushik ia an Indian Film Director, and he was born on Mahendragarh Haryana India.  He is also a producer and a actor also. He made his acting debut in the year 1983 and still he is working in the Bollywood Film Industry. He has won many awards like Filmfare Best Commedian Award and many others. 

Occupation: Indian Actor, Producer, Director

Birth Place: Mahendergarh Haryana India

Estimated Net Worth: $100k 

6. Subhash Chandra Subhash Chandra is a Member of Parliament of Rajya Sabha from Haryana and he was born in the year 1950 in Adampur Punjab India.  He is the chariman of the Essel Group and his net worth income is  US$ 4.6 billion.  He was also the chairman of the Zee Media. 

Occupation: Co-founder and Chairman of Essel Group

Birth Place: Adampur Punjab India

Estimated Net Worth: US $4.6 Billion

7.  Rajkumar Rao Rajkumar Rao is an Indian Bollywood Actor. He has eastablshed his career in Bollywood Film Industry.  He was born in the year 1986 in Gurugram Haryana India. He made his acting debut in the year 2010 and still he is working in the Bollywood Film Industry. He has won many awards like Star Screen Award in 2018 for Stree and many others. 

Occupation: Indian Actor

Birth Place: Gurugram Haryana India

Estimated Net Worth: $6 Billion

8. Sameer Gehlaut Sameer Gehlaut is the founder and chariman of Conglomerate Indiabulls Group. He was born in the year 1974 in Rohtak Haryana India. His net worth income is $3.8 billion. Now, at this time he lives in Mumbai.

Occupation: Businessman

Birth Place: Rohtak Haryana India

Estimated Net Worth: $3.8 Billion

9. YashPal Sharma YashPal Sharma is an Indian Bollywood Actor who was born in the year 1965 Hisar Haryana India. His another name is Billu and he made his acting debut in the year 2001 and still he is working in the Bollywood Film Industry.  He has also won many awards like Zee Cine Awards in 2004 and many others.

Occupation:  Indian Actor

Birth Place: Hisar Haryana India

Estimated Net Worth: $100K

10. Malika Sherawat Malika Sherawat is an Indian actress who work in Hindi, English, Chinese language films. He was born in the year 1976 Moth, Hisar Haryana India.  He made his acting debut in the year 2002 and still she is working in the Bollywood Film Industry.

Occupation: Indian Actress

Birth Place: HIsar Haryana India

Estimated Net Worth: $10 Million

[vsplusonline]

JSW Group receives clarity from Maharashtra AAAR for GST on coal

New Post has been published on https://apzweb.com/jsw-group-receives-clarity-from-maharashtra-aaar-for-gst-on-coal/

JSW Group receives clarity from Maharashtra AAAR for GST on coal

Mumbai: The Maharashtra Appellate Authority for Advance Ruling (AAAR) for Goods and Service Tax has passed an order to exclude the Sajjan Jindal-led JSW Energy from paying GST on steam coal and said that the Group’s flagship steel manufacturing arm, JSW Steel will bear the cost while procuring the coal, in what is seen as a significant clarification as it avoids the spectre of double taxation for the group companies.

This judgement is set to give clarity for several other industries on GST payments for job work contracts.”We hereby hold that the proposed arrangement of supply of coal or any other inputs by the principal i.e. JSW Steel to Appellant I.e. JSW Energy for generation of electricity will be construed as job work. Accordingly, no GST will be leviable on this supply. Finally the job work charges payable to JSW Energy will be subjected to GST in terms of the relevant provisions,” said the order dated 13th January.

Job work is defined as any treatment or process undertaken by a person in this case JSW Energy, on goods belonging to another registered person, JSW Steel.

Several industries like cement and aluminium have also raised issues on this subject said lawyer Rohit Jain, partner at Economic Laws Practice, the counsel for the JSW Group. “It is an industry wide issue, this ruling by the appellate authority will settle the concept of job work under the GST law,” said Jain.

“JSW Steel purchases coal on a bulk basis and we pay GST on this, while passing this to JSW Energy we cannot pay another tax. To seek clarity we went for advance ruling,” said JSW Steel’s Joint MD, Seshagiri Rao to ET.

The Sajjan Jindal-led companies JSW Steel and JSW Energy are two separate legal entities that had entered into a job work contract. Where the steel arm was to supply coal to the energy company and the resultant electricity is used in the manufacturing of steel.

In this transaction, GST was levied first on JSW Steel and then when the coal is supplied to the energy company there was another GST payment levied on JSW Energy. AAAR during July 2018 passed an order saying that the contract signed does not constitute as job work contract, thus the GST had to be paid twice. The companies then approached the Bombay High Court and approached the AAAR again on this matter.

The Maharashtra GST tribunal bench headed by judges Sungita Sharma and Rajiv Jalota revised the earlier order and said that the transaction will be considered as job work under section 143 of central goods and service tax act and GST will be levied on JSW Steel for procuring coal and while paying the job work charges to JSW Energy.

“This is a positive order for the JSW Group and there is more clarity now. Earlier we used to pay GST to the government while procuring coal and pay it again while supplying it to JSW Energy. Apart from this GST was applicable on the job work charges. Now this is simplified,” said JSW Steel’s Joint MD, Seshagiri Rao to ET.

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[jobgujnews]

Sajjan Jindal calls for development FIs

Sajjan Jindal calls for development FIs

MUMBAI: India needs development finance institutions (FIs) to fund the capital expenditure needs of Indian companies, said JSW Group chairman Sajjan Jindal.

“What we really need is development financial institutions,” Jindal told ET in an interview. “The government has been talking about it, but it is still in the planning stage. So, I think that is what is really needed – like the old IDBI,…

[dalmiacementpost]

Top Cement companies in India

There are several cement companies that claims to be the best cement company in India. India has a number of rich cement companies. A list of cement companies in India which are best is given below: 

The India Cements Limited

The India Cement Limited with the production capacity of 15.5 million tonnes per annum.

It has 8 integrated cement plants and 2 grinding units.

The company was founded in 1946 and headquartered in Tirunelveli, Tamil Nadu, India. N. Srinivasan is the Managing Director of the company.

It has almost 7500 employees working for their company and its R&D centre is located in ICL Dalavoi plant.

Binani Cement

Binani Cement with the production capacity of 11.25 million tons per annum.

The Company has 2 integrated plants, one in India and one in China, and grinding units in Dubai.

It produces OPC cement of two grades — 43 and 53 in addition to PPC cement.

The company was founded in 1996 and headquartered in Mumbai, India. Vinod Juneja is the Managing Director of the company.

Wonder Cement

Third in this list is Wonder Cement with the production capacity of 6.75 million tonnes per annum.

It has only one cement plant located in Nimbahera, Rajasthan.

The company was founded in 2010 and headquartered in Udaipur, Rajasthan, India. Ashok Patni is the Chairman of the company.

It is noteworthy that its manufacturing unit was established in technical collaboration with ThyssenKrupp and Pfeiffer Ltd. of Germany and follows all the international standards in the production of the cement.

JSW Cement

Fourth in this list is JSW Cement with the production capacity of 6 million tonnes per annum.

This Company has 3 cement production plants located in Karnataka, Andhra Pradesh, and Maharashtra.

It produces three types of cement namely Portland Slag Cement (PSC), Ordinary Portland Cement (OPC), and Ground Granulated Blast Furnace Slag (GGBF).

Its headquarters is located in Mumbai, India and Sajjan Jindal is the Managing Director of the company.

Mycem Cement

 The last but not the least in this list is Mycem Cement with the production capacity of 5.4 million tonnes per annum.

It has 3 cement manufacturing plants located in Damoh (Madhya Pradesh), Jhansi (Uttar Pradesh) and Ammasandra (Karnataka).

It is especially relevant that Heidelberg Cement India uses the brand name Mycem cement to sell cement in India. Heidelberg Cement India is a subsidiary of Heidelberg Cement Group, Germany.

The company was founded in 1959 and headquartered in Gurgaon, Haryana, India. Sarangapani Mudaliar, Nandlal Hamirwasia, S.K Birla, Sushil Kumar Tiwari are the founders of the company.

 There are many more. Dalmia Cement is one of them.

[onlevelup01]

MUMBAI: Courts and banks should expedite the resolution process of Essar Steel, which has been going on for more than 20 months, said Sajjan Jindal, chairman at JSW Group that failed in its bid to acquire the prized steelmaking assets through the bankruptcy court.In an exclusive interview to ET, Jindal conceded that the entry of European steel giant ArcelorMittal, which has won the race for Essar Steel, will bring discipline in the Indian steel market and make it more organised.He, however, felt the near-$10 billion (Rs 69,272 crore) cheque that the Lakshmi Mittal-led ArcelorMittal may be writing for Essar Steel — accounting also for the price it will ultimately pay for ports, pipelines and Uttam Galva’s dues — may not be viable. If JSW were to acquire Essar Steel, even an offer worth $5 billion would have been a tad too steep, Jindal said.“...but beauty lies in the eyes of the beholder,” he said.Jindal, however, warned that delaying the handing-over of Essar Steel might force Lakshmi Mittal to change his mind. “Given that there are global headwinds to the steel industry and with ArcelorMittal’s global presence, its margins are under tremendous pressure,” he said. “At this stage if the courts and the banking system continue to delay the matter then my worry is that ArcelorMittal may find some way to get out of the deal.”JSW Steel had actively participated in the sale of stressed assets that the Insolvency and Bankruptcy Code has facilitated. However, it could not bag the asset it wanted the most — Bhushan Steel — which would have given the company a five million tonnes ready steel capacity and a foothold in the east market. Rival Tata Steel won the race for Bhushan Steel.Defending his seemingly conservative approach in bidding for Bhushan Steel, Jindal said though JSW Steel felt it had bid the “top dollar” for the asset, Tata Steel ended up bidding higher than they could have anticipated.69669596 ‘Govt Should Fix Liquidity Crisis’“It is because their investment per tonne is higher than our investment per tonne that they paid more,” he said.After losing out on Bhushan Steel, JSW Steel had also tried to enter the fray for Essar Steel, but by that time “it was too late”, Jindal said. A failure to submit expression of interest on time kept his firm out of the contest for the Hazira-based fully integrated flat carbon steel maker with a capacity to produce 10 million tonnes per annum (mtpa).Out of the crop of 12 highly stressed steel assets sent for insolvency proceedings, JSW Steel has bagged Monnet Ispat and Energy. It also pipped Tata Steel in bidding for Bhushan Power and Steel, though the final order on its acquisition is still awaited.Apart from aggressively expanding its steel capacity that is estimated to reach 40-50 mtpa by 2025, the $14-billion JSW Group is also diversifying into newer, consumer-facing businesses. In 2017, its power arm JSW Energy had announced a plan to enter the electric vehicle industry. However, in March this year, JSW Energy announced it has abandoned the plan due to “high uncertainties associated with the business”.“We were very keen to pursue the business, but then, later on, we realised that we don’t have the core competency in that and also the technology for it is still developing and a lot of changes might still take place,” Jindal said. He confirmed that talks of acquiring General Motors’ Talegaon plant for the project had been “almost finalised”.69669601 Asked whether he would review his decision to enter the EV space, Jindal said, “Never say never.” He, however, conceded that it is difficult to look at the business again in the future.For now, the group is focusing on entering the retail household consumers through its newly launched paints and furniture businesses that require smaller investments.ON LEVERAGEJSW Steel, the flagship company of the group, currently sits on net debt of almost Rs 46,000 crore. It has announced brownfield expansions of both its Vijaynagar and Dolvi plants and is also doubling its value-added capacity.Jindal said with all the investments going towards newer capacities, this year the company’s Ebitda multiple might stretch in comparison to its net debt, but it will get corrected next year when these projects start earning. The company’s net debt to Ebitda ratio is 2.4x currently.Jindal also said that over the next six months, he plans to wind down his share of pledged holding that currently stands at close to 50%.Much like other captains of India Inc, Jindal also batted for the government to “fix” the liquidity crisis. He also exhorted the government to set a target to grow at 12% by announcing big-ticket projects and boosting spend on infrastructure as it would create more jobs.He also said the government should only control strategic assets such as oil and gas, and nuclear power, while others like steel, aluminium and airlines should be given in the hands of the private sector or strategic investors that could run them more efficiently.Jindal said if the state-run National Aluminium Company (NALCO) and Steel Authority of India (SAIL) were put on the block, he would certainly have a look at it.He said by 2025, close to 95% of JSW Steel’s targeted 40-50 million tonnes assets will come from India while the rest will come from the global assets. “After that, we have not yet made plans and they will depend on the demand in India, how it is growing and what is the role of other steel companies,” Jindal said. from Economic Times http://bit.ly/2MvoaDY

[aminalatif]

High on M&As, JSW builds talent pool

MUMBAI: The $13-billion JSW Group, which is in an acquisitive mode, is refurbishing its workplace culture to attract talent. The group has taken a significant salary reset to increase compensation by 25-30 per cent in junior- and middle-management levels.

A kind of reset has also been done on promotions to enable a job-banding exercise. Given that the group is currently stretched on the talent front, there is a plan to hire 500-600 engineering trainees for its manufacturing units and newly acquired assets.

Creating a talent pool has become critical for the Sajjan Jindal-led steel-to-ports group. Over the last decade, the conglomerate has forayed into new sectors like infrastructure, cement, energy, sports and ports and has made a host of acquisitions — Ispat Industries, Shiva Cement — and some outside India like Acero Holdings and Aferpi.

JSW Group president (HR) Gautam Chainani said, “There was a time when we were losing people and a salary correction was necessary.” The group has also adopted a segmented strategy to retain high performers who were becoming an attrition risk. “We have already identified 200-250 people in our talent pool pipeline whose growth we track and monitor,” said Chainani. JSW — which is doing assessments across all levels, including senior-most levels — is also strengthening its performance management system. While the group follows an annual cycle of appraisal, some companies are said to be keen on moving to bi-annual reviews.

Sajjan Jindal’s son Parth Jindal — who is the MD of JSW Cement and founder director of JSW Sports — is taking a keen interest in people-related matters of the 8,000-manager strong group.

For a large group that is enhancing its global play, a diversified workforce becomes an imperative. Sergio Rocha of Brazil was recently appointed by JSW Energy as COO of its electric vehicle business. “Six years ago, if someone told me that we would have a Brazilian here heading our electric vehicle business and he would fit into our culture, I would tell him there’s no chance.

Today, it’s a reality and that team will only expand going forward as our businesses grow here and internationally,” said Jindal, who believes professionalism within the group has enhanced and with greater delegation of power, the mentality that the promoter will decide everything has changed. “When I joined the group, I started looking at HR. My father advised me to meet everyone we are hiring in the position of general manager and above. Since then and now, there’s a sea change in the level of people who have started coming to JSW for interviews. We are attracting talent from all the top companies in India,” said Jindal.

HR experts said manufacturing companies are undergoing a culture change as the sector was unable to hold on to the creme-de-la-creme of talent, which was moving to other sectors. HR consulting firm DDI India’s MD Amogh Deshmukh said, “Since the IT boom of the late nineties, the manufacturing sector faced a massive brain drain. This weakened the mid-level talent and companies were forced to induct talent through lateral hires.” Matching compensation was one way to reverse this. “The quality of talent has begun to rise,” said Deshmukh.

The JSW Group has taken some hard decisions as well. It is said to have done away with the old legacy of offering post-retirement extensions. It is not keen on lateral hiring either, but Jindal said, “While growing and promoting talent from within is always a priority for JSW, we are facing real pressure as our people requirement is growing. Everyone is stretched, so we have decided to go for lateral hiring.”

The culture change is also directed at attracting woman talent. JSW has begun taking baby steps to improve its gender diversity with a target to double it to 10 per cent in the next few years. “We carried out a survey among our women managers on what factors they think would facilitate their learning and growth in JSW.

One of the feedbacks we received was that JSW managers were over-protective about their women employees and they felt that many opportunities on challenging assignments were not being provided. We realised that our women team members wanted to take on tougher assignments and we are sensitising managers to bring about this change,” said Chainani.

The group has tied up with IIM-Bangalore for ‘Springboard’, a programme which will see 65-70 women managers across businesses and functions being groomed to take up challenging as well as leadership roles within the group.

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[ibcode]

It's Jindal v/s Mittal on Twitter in race for Essar Steel

It’s Jindal v/s Mittal on Twitter in race for Essar Steel

Piyush Pandey MUMBAI , APRIL 11, 2018 22:43 IST UPDATED: APRIL 11, 2018 22:43 IST   The tiff comes after JSW Steel joined the Consortium of Numetal to submit it bids for Essar Steel. ArcelorMittal has also submitted its bid.

Sajjan Jindal-led JSW and L.N. Mittal-led ArcelorMittal has started allegations and counter allegations against each other on the micro blogging site Twitter. This is…

[onlevelup01]

MUMBAI: Courts and banks should expedite the resolution process of Essar Steel, which has been going on for more than 20 months, said Sajjan Jindal, chairman at JSW Group that failed in its bid to acquire the prized steelmaking assets through the bankruptcy court.In an exclusive interview to ET, Jindal conceded that the entry of European steel giant ArcelorMittal, which has won the race for Essar Steel, will bring discipline in the Indian steel market and make it more organised.He, however, felt the near-$10 billion (Rs 69,272 crore) cheque that the Lakshmi Mittal-led ArcelorMittal may be writing for Essar Steel — accounting also for the price it will ultimately pay for ports, pipelines and Uttam Galva’s dues — may not be viable. If JSW were to acquire Essar Steel, even an offer worth $5 billion would have been a tad too steep, Jindal said.“...but beauty lies in the eyes of the beholder,” he said.Jindal, however, warned that delaying the handing-over of Essar Steel might force Lakshmi Mittal to change his mind. “Given that there are global headwinds to the steel industry and with ArcelorMittal’s global presence, its margins are under tremendous pressure,” he said. “At this stage if the courts and the banking system continue to delay the matter then my worry is that ArcelorMittal may find some way to get out of the deal.”JSW Steel had actively participated in the sale of stressed assets that the Insolvency and Bankruptcy Code has facilitated. However, it could not bag the asset it wanted the most — Bhushan Steel — which would have given the company a five million tonnes ready steel capacity and a foothold in the east market. Rival Tata Steel won the race for Bhushan Steel.Defending his seemingly conservative approach in bidding for Bhushan Steel, Jindal said though JSW Steel felt it had bid the “top dollar” for the asset, Tata Steel ended up bidding higher than they could have anticipated.69669596 ‘Govt Should Fix Liquidity Crisis’“It is because their investment per tonne is higher than our investment per tonne that they paid more,” he said.After losing out on Bhushan Steel, JSW Steel had also tried to enter the fray for Essar Steel, but by that time “it was too late”, Jindal said. A failure to submit expression of interest on time kept his firm out of the contest for the Hazira-based fully integrated flat carbon steel maker with a capacity to produce 10 million tonnes per annum (mtpa).Out of the crop of 12 highly stressed steel assets sent for insolvency proceedings, JSW Steel has bagged Monnet Ispat and Energy. It also pipped Tata Steel in bidding for Bhushan Power and Steel, though the final order on its acquisition is still awaited.Apart from aggressively expanding its steel capacity that is estimated to reach 40-50 mtpa by 2025, the $14-billion JSW Group is also diversifying into newer, consumer-facing businesses. In 2017, its power arm JSW Energy had announced a plan to enter the electric vehicle industry. However, in March this year, JSW Energy announced it has abandoned the plan due to “high uncertainties associated with the business”.“We were very keen to pursue the business, but then, later on, we realised that we don’t have the core competency in that and also the technology for it is still developing and a lot of changes might still take place,” Jindal said. He confirmed that talks of acquiring General Motors’ Talegaon plant for the project had been “almost finalised”.69669601 Asked whether he would review his decision to enter the EV space, Jindal said, “Never say never.” He, however, conceded that it is difficult to look at the business again in the future.For now, the group is focusing on entering the retail household consumers through its newly launched paints and furniture businesses that require smaller investments.ON LEVERAGEJSW Steel, the flagship company of the group, currently sits on net debt of almost Rs 46,000 crore. It has announced brownfield expansions of both its Vijaynagar and Dolvi plants and is also doubling its value-added capacity.Jindal said with all the investments going towards newer capacities, this year the company’s Ebitda multiple might stretch in comparison to its net debt, but it will get corrected next year when these projects start earning. The company’s net debt to Ebitda ratio is 2.4x currently.Jindal also said that over the next six months, he plans to wind down his share of pledged holding that currently stands at close to 50%.Much like other captains of India Inc, Jindal also batted for the government to “fix” the liquidity crisis. He also exhorted the government to set a target to grow at 12% by announcing big-ticket projects and boosting spend on infrastructure as it would create more jobs.He also said the government should only control strategic assets such as oil and gas, and nuclear power, while others like steel, aluminium and airlines should be given in the hands of the private sector or strategic investors that could run them more efficiently.Jindal said if the state-run National Aluminium Company (NALCO) and Steel Authority of India (SAIL) were put on the block, he would certainly have a look at it.He said by 2025, close to 95% of JSW Steel’s targeted 40-50 million tonnes assets will come from India while the rest will come from the global assets. “After that, we have not yet made plans and they will depend on the demand in India, how it is growing and what is the role of other steel companies,” Jindal said. from Economic Times http://bit.ly/2MvoaDY

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Amid high drama, JSW, Tata emerge as serious bidders for Bhushan Steel

Employees of Bhushan Steel also submit an offer for the company

Dev Chatterjee & Ishita Ayan Dutt  |  Mumbai/ Kolkata  Last Updated at February 5, 2018 10:09 IST

Sajjan Jindal-owned JSW Steel and Tata Steel have emerged as the two serious bidders for Bhushan Steel as binding bids closed on Saturday. The employees of Bhushan Steel have also submitted an offer for the company. ArcelorMittal said…

[ibcode]

Insolvency: Tatas, Ruias submit bids for debt-laden Essar Steel

Insolvency: Tatas, Ruias submit bids for debt-laden Essar Steel

JSW Steel is said to have skipped submitting a resolution plan for Essar Steel

Aditi Divekar & Veena Mani  |  Mumbai/New Delhi  Last Updated at October 24, 2017 03:34 IST

Tata Steel and the Ruias themselves have put in bids for debt-laden Essar Steel after the company was put up for sale under the Insolvency and Bankruptcy Code (IBC). Sajjan Jindal-led JSW Steel, aggressive in bidding for…