Mawana Sugars has reportedly placed its Titawi sugar mill on the block to bring down the debt and clear sugarcane dues to farmers. The company is making efforts to raise money as it has been unable to service banks’ debt and make timely payment to farmers.
The company is learnt to have roped in financial services firm JM Financial to find a buyer. Based on the cost of replacing a mill of such capacity, Titawi could fetch up to Rs 400 crore.
Mawana Sugars has been engaged in the business of manufacture and selling of chemicals, sugar and edible oils.
