Independent experts Duff & Phelps and PricewaterhouseCoopers have revised the liquidation value of Bhushan Power & Steel upwards to Rs 20,000 crore, almost double their initial estimates, barely two weeks ahead of a deadline for submission of final bids for the bankrupt company, according to people briefed on the matter.
The revision takes into consideration a neardoubling of production capacity at the company’s Odisha plant, the people said. Both firms, which evaluated Bhushan Power & Steel’s assets separately, appear to have missed the allocation of funds towards the ramp-up in capacity, according to people in the know. Read More…
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