Steel tycoon Jindal keen to acquire bankrupt Indian shipyard
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Dubai-based shipping firm GMS and Kotak Special Situations Fund were among the others that registered to bid as of the Feb. 28 deadline,
(Photo: Bloomberg)
. Updated: 02 Mar 2021, 04:21 PM IST Bloomberg
For Jindal Steel, controlled by Naveen Jindal, Reliance Naval can be a captive client for the company’s shipbuilding plates, said Vidya Rattan Sharma, managing director at the steelmaker, who confirmed Jindal’s interest
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Jindal Steel & Power Ltd., India’s third-largest producer of the alloy by market value, and two other groups were the latest to express interest in bidding for Reliance Naval & Engineering Ltd., according to people familiar with the matter.
Read more about Jindal Steel keen to acquire bankrupt Reliance Naval & Engineering on Business Standard. A successful sale of Reliance Naval will help creditors, including IDBI Bank and SBI recoup part of the company s Rs 10,800 crore of debt.
(Bloomberg) Jindal Steel & Power Ltd., India’s third-largest producer of the alloy by market value, and two other groups were the latest to express interest in bidding for Reliance Naval & Engineering Ltd., according to people familiar with the matter.
Kotak Special Situation fund invests ₹250 crore in Sanjaya Mariwala’s SPV
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Kotak Special Situations Fund (KSSF) – managed by Kotak InvestmentAdvisors Limited (KIAL), today announced that it has invested ₹250 crore in Sanjaya Mariwala’Kotak Special Situation Fund Invests ₹250 crore in Sanjaya Mariwala’s SPVs Special Purpose Vehicle (SPV), to help the latter buy-out two B2C supplement businesses – “Setu and “Edence from Omniactive Health Technologies Limited (OmniActive) as well as provide dry-powder for further investment in the nutraceuticals businesses.
India is expected to be one of the global leaders in the nutraceuticals industry and the acquisition of Setu and Edence, will help fuel the growth of Setu and Edence by creating a focussed growth trajectory in the B2C space.