Tata Sons has objected to Mistry Group's plan to pledge a portion of its stake to raise money.
The Action Covid Team Grants, which is possibly a first-of-its-kind initiative globally, has already received about 40% of its target corpus.
Freefall in Axis shares — pledged as collateral — leads to calls for more cash, global guarantees by PE’s lenders.
Coronavirus scare: Kishore Biyani plans stake sale in Future Retail, insurance biz to tide over debt woes
Biyani in talks with investors including Premji Invest to sell a large chunk of the promoter stake in FRL
Leading personal care companies Godrej Consumer Products Ltd, Marico, Emami, Dabur and HUL have been tapped as the founding family behind Super Vasmol hair colour has decided to sell its flagship brand for ₹1,500 -1,800 crore
SSG’s final offer after multiple revisions is an upfront cash payment of Rs 2,700 crore and a one year employment guarantee for the management team. Altico owes about Rs 4,000 crore to State Bank of India, Deutsche Bank, Bank of Baroda, Yes Bank, Union Bank, Mashreq Bank and IFC, besides NBFCs and mutual funds including Aditya Birla Finance, Bajaj Finance and L&T Finance.
Lender aims to bring in Rs 20,000 crore equity and bulk deposits, CDs of Rs 30,000 crore, moots bond conversion.
The move, SBI feels, would prevent a flight of funds and lead to an upgrade in credit rating.
Final round of discussions on with TPG, Advent, Lupa and ChrysCap to raise about $150-200 mn.
The state-owned bank is also said to be in talks with Tilden Park, JC Flowers and Cerberus Capital, some of which the previous management had been negotiating with.
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