The Essar Group will be repaying debt of Axis Bank and other financial institution, via proceedings from the sale of BPO business.
Capital Square Partners, a private equity firm has acquired Aegis BPO, from Essar Group for USD 300 million. Further, in April 2017, Capital Square Partners agreed to buy Aegis for around Rs.2,000 crore.
Moreover, as per sources, last week Axis Bank has received around Rs.1,000 crore from BPO company, Aegis and the bank will show this Rs.1,000 crore recovery in Q3FY18 on Aegis BPO’s NPA account.
