Signals, Powered By EquityPandit
Dalmia Bharat (DBL) will be acquiring bankrupt Murli Industries, a Nagpur based cement manufacturer, by injecting Rs.400 crore to revive the company.
Murli Industries has presence in paper and paperboards, edible oil, pulps, solvent and power, apart from cement. Under the deal, DBL will cancel most of the equity of Murli Industries and pay its lenders Rs.350 crore in cash, which means a haircut of 80% for the banks.
Further, Murli Industries has taken a loan of Rs.900 crore, with interest and penalty, its outstanding has raised to Rs.1,700 crore. Dalmia Bharat will also inject Rs.69 crore in Murli Industries to hold more than 90% stake in the company and will also repay other statutory dues.
