Tata Steel

Tata Steel BSL Ltd reduces debt by 60 per cent

Tata Steel BSL Ltd reduces debt by 60 per cent

Tata Steel has been able to significantly make good on its big-ticket purchase of Bhushan Steel Limited (BSL) three years ago that potentially makes it the most successful acquisition by the company. Tata Steel Ltd had stumped up Rs 35,200 crore for the Odisha-based plant which can produce 5.6 million tonnes. While the parent invested Rs 19,700 crore from its own balance sheet, it also put in place a 12-year long-term take-out financing of Rs 15,500 crore for Tata Steel BSL. A back of the hand calculation suggests the company has been able to reduce leverage by Rs 9,300 crore,…
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