Stocks In News - CDR (Must Buy on Dip)

1. The Aion Capital-JSW Steel consortium,  has emerged as the frontrunner to acquire Monnet Ispat and Energy, submitted a Rs 3,500-cr resolution plan.
2. Plan involves paying Rs 2,500 cr to lenders and an equity investment of Rs 1,000 cr, backed by a letter of comfort from ICICI Bank.
3. The Rs 2,500-cr payment will be a one-time settlement for loans of Rs 10,000 cr, an effective haircut of 75%, under the proposal.
4. The (Aion-JSW) JV has proposed that they would first write down almost the entire equity and subsequently infuse Rs 1,000 cr capital as equity.
5. Post this equity restructuring, the JV will have 70% equity, lenders led by SBI will have 10% and the public 20%.
6. After State Bank of India referred Monnet to bankruptcy court, the resolution professional in charge of the process received claims to the tune of Rs 10,359 cr from financial creditors and Rs 116 cr from operational creditors. 
7. Aion Capital holds a 70% stake in the consortium and JSW Steel has the remaining 30%. Of the proposed equity investment.
8. Aion Capital has committedRs 600 cr and JSW Steel Rs 400 cr.
9. Monnet Ispat owns a 1.5 million tonne integrated steel plant along with a 0.8 million tonne sponge iron plant, a 2 million tonne pellet plant, a 0.96 million tonne sinter plant and a 230 MW captive power plant in Chhattisgarh. 
10. The company has 7.5 million tonnes of coal beneficiation facilities in Chhattisgarh and Odisha.