An article published today in The Times of Iindia states that Essar Steel Algoma may venture into an initial public offering (IPO).

An article published today in The Times of Iindia states that Essar Steel Algoma may venture into an initial public offering (IPO).

Brothers Shashi and Ravi Ruia are reportedly discussing the option of listing Essar Steel Algoma and Essar Steel Minnesota LLC in order to cut the company's debt.

An Essar spokesperson told The Times of India: "It is speculative to comment on any listing plan of Essar Steel's North American assets . Like any prudent organization, we keep evaluating various options and take decision at the right time."

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