Uttam Galva Steel Ltd shares jumped as much as 20 per cent in early trade on Thursday after TV reports said the company may soon be put on the block soon as it debt stands at Rs 3,637 crore.
The scrip opened at Rs 35.25 and has touched a high and low of Rs 35.25 and Rs 31.40, respectively. The share price closed 12.41 per cent up at Rs 33.05.
State Bank of India and IDBI Bank are among its large lenders, who are expected to hold a meeting with promoters in July.
Among the potential buyers, Liberty House and JSW Steel are in the race to acquire the company