This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Supreme Court to Review Cancellation of JSW Steel’s $2.3bn Bhushan Power Acquisition
August 1, 2025
India’s Supreme Court has agreed to reconsider its earlier decision that quashed JSW Steel’s $2.3bn takeover of Bhushan Power and Steel, stating that the ruling did not properly account for legal precedents. In May, the court had invalidated the deal, six years after it was first approved, raising concerns among investors and unsettling India’s 2016 bankruptcy reforms. The court had cited serious flaws in the takeover process and ordered Bhushan Power’s liquidation, instructing banks to return recovered funds. However, it later paused the liquidation, giving JSW Steel time to seek a review. The court now believes the case merits a fresh evaluation and will next hear it on August 7.
JSW Steel’s dollar bonds traded stable with its 3.95% 2027s at 97.5, yielding 5.5%.
For more details, click here.
Go back to Latest bond Market News
Related Posts:
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.