Sajjan Jindal-run JSW Steel's coal deal frozen amid Mozambique legal row
Wed, Jan 8, 2025 5:41 PM

Sajjan Jindal-run JSW Steel's coal deal frozen amid Mozambique legal row

A Flip by Shubhangi Gupta
Get it on Google Play
India’s largest steelmaker has been sidelined by a legal dispute that’s derailed its deal to buy a coal concession in Mozambique. JSW Steel, run by Sajjan Jindal, agreed in May to buy Minas de Revuboè from the estate of Ken Talbot, an Australian mining tycoon who died 14 years ago. Before the deal could be completed, Mozambican government revoked MdR’s lease to mine coal valued at about $50 bn.

More great flips

China's Evergrande Group ordered to repay its property unit

China's Evergrande Group ordered to repay its property unit

China's Evergrande Property Services Group said on Friday a Guangzhou city court has ordered its parent China Evergrande to repay pledge guarantees on deposit certificates totalling 13.4 billion yuan ($1.83 billion). Evergrande Property began legal proceedings against its indebted parent early last year for using its deposits as collateral for pledge guarantees.

Open Flip
Sudarshan Pharma stock to raise ₹188 crore fund via preferential issue

Sudarshan Pharma stock to raise ₹188 crore fund via preferential issue

Small-cap stock below ₹50: Shares of Sudarshan Pharma Industries Ltd will be in focus on Monday when trading activity begins at 9:15 AM. The small-cap stock priced below ₹50 is one of the multibagger stocks that the Indian stock market has delivered in one year. This multibagger stock has declared the issuance of preferential shares worth up to ₹188.34 crore.

Open Flip
EMA Partners India SME IPO to open on Jan 17; raise Rs 76 crore

EMA Partners India SME IPO to open on Jan 17; raise Rs 76 crore

Mumbai-based EMA Partners India on Saturday said it is looking to raise Rs 76 crore on the NSE's Emerge platform through an initial public offering, which will open for public subscription on January 17. The issue with a price band of Rs 117-124 apiece will conclude on January 21. The bidding for anchor investors will open for a day on January 16, the company said in a statement.

Open Flip

Join our Smart Investment Community

More than 2 Million users are using FlipItMoney to stay updated about the business and finance world! Join FlipItMoney now and take smart investment decisions!
Icon