SBI-led banks invite bids for Essar Group promoter guarantees
pre-market1 source ↓written by the desknot a recommendation
- of residual liabilities
- ₹13,751 cr
- is set
- ₹200 cr
- bids due
- 17 Jun 2023
- involving
- 2019 debt resolution
A consortium of banks led by State Bank of India has called for bids on personal guarantees from Essar Group promoters, Prashant and Ravi Ruia, against ₹13,751 cr of residual liabilities. The reserve price is set at ₹200 cr, with bids due by 17 Jun 2023. This move follows the 2019 debt resolution involving Essar Steel and ArcelorMittal India.
Not investment advice. For informational purposes only.