It is ported that Baring Private Equity Asia has picked up a minority stake of about 10% in Bhushan Power and Steel Limited for about $33 million.

According to Mr Sanjay Singal CMD of BSPL funds received from Baring will be invested in the integrated steel complex, being set up in Orissa. Post commissioning, the company will become a 1.2 million tonne integrated steel company.