“There is a paradox in the bond market,” said Pratapsingh Nathani, Beacon Trusteeship.
New York-based $79 billion private equity firm Warburg Pincus is the largest shareholder with 43.5 per cent in the company.
Odisha Slurry owes financial creditors Rs 3,300 crore, of which Rs 2,350 crore is the principal amount.
The bank plans to raise $2 bn on a preferential allotment basis from eight investors.
The bank's board will meet again on December 10 to finalise and approve details of the preferential allotment.
As much as Rs 3,700 crore of the acquisition cost was supposed to have been funded by bank loans with Patanjali infusing Rs 600 crore from its own internal accruals. Bankers are also wary of funding the home-grown consumer goods company after rating downgrades by rating agencies Care and ICRA in October.
Ujjivan wants holding company shareholders to subscribe to the IPO and have reserved 10% for them.
Bharti Airtel, Reliance Jio, Varde Capital and UV Asset Reconstruction Company have submitted bids to buy assets of debt-ridden Reliance Communications.
Axis Capital, Credit Suisse, ICICI Securities and Kotak Mahindra have been appointed by the company for the share sale.
Bad loan aggregator managed to sell more than 1500 properties across the country last fiscal.
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