India Inc eyes Rs 2 lakh cr from assets to tide over stress - Feedback

With bankers forcing companies to sell non-core assets to tide over bad debts, the economic research wing of SBI on Wednesday said it expects asset sales of up to Rs 2 trillion by Indian Industry as part of the clean-up process.

“We estimate that nearly Rs 2 lakh crore of asset sales are in the pipeline/already completed by debt-ridden companies having a debt exposure of around Rs 10 lakh crore,” it said in a note.
At least a tenth of the total debt sales should go through the listing route, it said, adding that cash-rich conservative corporates are finding value in such companies. It also cited recent happenings where companies like Sanghi Industries, Indo Count Industries, Ginni Filaments and Haldia Petrochemicals have exited the corporate debt restructuring process, with players like Ultratech, Piramal and promoters of Sun Pharma being the saviors.

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