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

The Economic Times - - Markets: Beating Volatility - San­gita.Me­hta @times­group.com 10,370 2,889 7,448 8%

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

CON­VER­SION TROU­BLE

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

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