NARCL to take over debt of Sri Govindaraja for ₹270 crore
- Posted on November 22, 2024
- By Business News Today
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NARCL to take over debt of Sri Govindaraja for ₹270 crore
NARCL will acquire Sri Govindaraja Mills. The textile company owes creditors over ₹750 crore. NARCL's offer of ₹270 crore was unchallenged. This will be NARCL's second asset acquisition. The deal involves 15% upfront cash and 85% in security receipts. Government guarantees back these receipts.
