Visa Steel – Outcome of Joint Lenders Forum (JLF) Meeting

Visa Steel Ltd has informed BSE that the Lenders of the Company in its Joint Lenders Forum (JLF) meeting held on September 22, 2015 have decided to invoke Strategic Debt Restructuring (SDR) pursuant to RBI Circular dated June 08, 2015. The Company is in discussion with Lenders for preparing a conversion package to enable inviting a strategic investor in its Special Steel Business.

ABOUT VISA STEEL

VISA Steel is operating a 0.5 million TPA Integrated Special Steel Plant, 180,000 TPA Ferro Chrome Plant and 75 MW Captive Power Plant at Kalinganagar in Odisha. The Company is also progressing towards establishing a Steel Plant at Raigarh in Chhattisgarh and plans to set up a Steel Plant and Manganese Alloy Plant in Madhya Pradesh.

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