Banks have no liability to telecom companies linked to the AGR order because these do not form a part of the guarantees they have given. However, any cash outflow due to these payments could severely dent debtheavy service providers such as Vodafone Idea.
Unlike a sale of an asset as a going concern there are no values assigned to individual assets and liabilities of a company in a slump sale.
"The net slippages have come at 42 basis points compared to 46 basis points last year."
Bankers have named Jio as the preferred bidder for the tower and fibre assets housed in Reliance Infratel, while UVARCL will acquire the spectrum of RCom and its subsidiary Reliance Telecom. The combined offer from UVARCL and Jio is higher than the offer from Bharti Airtel — which had an NPV of Rs 8,500 crore.
Some lenders like Kotak Mahindra Bank and IDBI Bank were opposed to this infusion because they were not consulted before this decision was taken.
Rating agency Fitch has given a ‘BB-’ to ReNew’s proposed issue.
IndoStar has raised Rs 610 crore under PCG over past one month.
However, a majority in the once buzzing NBFC sector will continue to reel under liquidity concerns with the economic slowdown putting elevated pressure on asset quality.
Religare Finvest owes lenders a total of Rs 5,800 crore in working capital and term loans.
The issues see Exim raising $1 billion at 3.27% Manappuram collecting $300 mn at 5.9%
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