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VISA STEEL DEBT
ACRE to buy Union Bank's Rs 411 crore Visa Steel LoanAsset Care and Reconstruction Enterprises (ACRE) is set to acquire a ₹411 crore loan of Visa Steel from Union Bank of India after no other ...- Union Bank calls bids for its Visa Steel loanThe bank has been planning to sell Visa steel since March when it had sought ₹160 crore or 40% recovery on its loan. Union Bank had followe...
- Union Bank puts Visa Steel's debt on sale at lower priceThe bank has set the reserve price at ₹143 crore, which is lower than the previous quarter's price of ₹160 crore. Additionally, debts of si...
- SBI to hold auction for Visa Steel debt after Acre ARC's offerAcre had earlier raised its all-cash offer to ₹243 crore from ₹230 crore offered in February. It is expected to be the front runner to be d...
- ACRE raises binding offer for debt of Visa SteelACRE, an ARC, has given a revised offer of ₹243 crore as against its previous offer of ₹230 crore, the people said. ACRE was the sole bidde...
- Union Bank of India fails to get bidders for its bad loansUnion Bank had put on sale a ₹410-crore loan of bankrupt Visa Steel and set the reserve price at ₹164.28 crore, entailing a recovery of at ...
- Union Bank puts ₹410-cr Visa Steel Loan on saleUnion Bank of India is following an open bidding process where bidders are invited at above the reserve price, they said. Interested bidder...
- Visa Power set to invite bidsVisa Power’s committee of creditors held its first meeting in Kolkata on Wednesday to consider the broad contours of terms for inviting bid...
- RBSA Advisors named interim resolution professional for Visa SteelThe State Bank of India, which is the lead bank, would initiate insolvency proceedings against Visa Steel.
- Promoters on Dalal Street offload stake to pare debtFor instance, promoters of real estate developer sold around 4% few weeks ago.
- RCom’s lenders consortium eyeing SDR route for revivalA meeting is expected this week and the lenders consortium may finalise advisors for SDR.
- Mission clean-up: Banks to pull up loan defaultersA battery of bankers led by State Bank of India and ICICI Bank is going to grill the top management of companies on their repayment and deb...
- Mesco plans Rs 13,500 crore investment to raise capacity in 3-5 yearsPrivate steelmaker Mesco plans to take its capacity to 4.5 million tonnes (MT) in the next 3-5 years with an investment of Rs 13,500 crore.
- Credit Suisse concerned over banks’ exposure to steel sectorCredit Suisse expressed concern over banking sector’s exposure to steel sector – which have huge debt burden at a time when metal prices co...
- Domestic steel manufacturers with debt overhang losing sleep on import surgeThe imports are mainly from China, Japan, Korea and Russia, which are already struggling with excess capacities and weak demand.
- PSU banks get aggressive on loan recovery, begin forcing management changesAccording to sources close to the development, SBI Chairman Arundhati Bhattacharya has been personally involved in some of these meetings.
- Corporate debt restructuring Cell okays Rs 6181 cr debt recast of Electrosteel SteelsIt added that the Rs 611.91 crore term loan outstanding of Non-CDR lenders will be outside the purview of CDR.
- PINC puts buy on Visa Steel; target Rs 85PINC Research has reiterated ‘buy’ on Visa Steel for a one year target price of Rs 85. The company currently manufactures pig iron, coke an...
- VISA Steel forms JV with BaosteelVisa Steel Ltd has entered into a joint venture with Baosteel Trading of China and VISA Comtrade of Switzerland for setting up a 1,00,000 t...
- Visa plans Rs 4500 cr power plantVisa group will invest Rs 4,500 crore in setting up a 1000-MW mega thermal power plant in Orissa.
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