Bidding War Erupts for Big Chunk of India's Steel Industry, an Industrial Info Market Brief

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India's private steel sector is racing toward a major overhaul. Top steel manufacturers are pulling all their strings to broaden their influence. Recent takeovers include Tata Steel's acquisition of Bhushan Steel for $4.9 billion; Vedanta Group's acquisition of Electrosteel for $4 billion; and Jindal's acquisition of Monnet Ispat for close to $1 billion. Ongoing efforts include a $4.9 billion bid for Essar Steel, and a $4 billion bid for Bhushan Power (Steel & Power).

These ongoing bidding wars account for one-fifth of the country's total steel-making capacity.