Srei Infrastructure Finance eyes its debtor Electrosteel Steels

Five others interested in insolvency-hit firm

Namrata Acharya & Ishita Ayan Dutt  |  Kolkata 

Kolkata-based Srei Infrastructure Finance has formally expressed interest to acquire its debtor firm Electrosteel Steels, currently undergoing insolvency proceedings. Besides Srei, five others have formally expressed interest in the firm: Tata Steel, Mesco Steel, Edelweiss, Avalokiteshvar Valinv Ltd and Electrosteel Castings.  A Tata Steel spokesperson said, "As a process, we do assess and evaluate various strategic opportunities for growth. This is an ongoing process in the company." Srei, which has an exposure of around Rs 300-400 crore to the firm, ...

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First Published: Tue, October 24 2017. 00:44 IST