Banks’ IVRCL Debt Rejig Plan may Sink with Bridge
Lenders with over .₹ 10k-cr exposure to co may have trouble finding buyers, or have to take haircut
Mumbai: Bankers fear that the collapse of the Vivekananda Road flyover in Kolkata built by IVRCL will spoil their chances of finding a buyer for their stake in the construction company.
Banks are now majority shareholders of IVRCL while the Hyderabad-based company’s promoter
Banks have an exposure of in IVCRL
cr Of this, cr is converted into equity under the SDR route Banks have close to
cr loan on their books Banks have majority stake in the company Promoters Reddy & family have just about stake in the company