Adani looks top contender to buy RINL, ESL Steel

Acquiring the two companies could give a much-needed boost to the Gautam Adani-led conglomerate’s steel ambitions.

In a week when it has closed two major deals in the media and real estate sectors, billionaire Gautam Adani-led Adani group has emerged as one of the most likely contenders to acquire two steel companies. These are state-owned Rashtriya Ispat Nigam Ltd and ESL Steel, a formerly bankrupt firm (earlier known as Electrosteel Steels Ltd) bought by the Vedanta group in 2018. 

The disinvestment of Visakhapatnam-based Rashtriya Ispat Nigam Ltd (RINL), which had been in the making for a decade, finally kicked off last week, with the Department of Investment and Public Asset Management conducting roadshows for potential investors.  …


Prince M. Thomas

Prince leads the newsroom at The Morning Context as managing editor. A fascination with the written word has taken Prince to some of the leading newsrooms across the country, including The Economic Times, Dow Jones Newswires, Forbes India and Moneycontrol. In a career spanning 20 years, Prince has led teams, managed pages, projects and special editions, and has authored The Consolidators, published by Penguin Random House in 2017.

Managing Editor