Following the closure of a proposed majority takeover of another UB Group firm United Spirits (USL) by Diageo, Srei Venture Capital, part of the Srei Infrastructure Finance, is planning to liquidate its Rs 430 crore loan exposure to beleaguered Kingfisher Airline. SREI had acquired loans to the tune of Rs 430 crore granted by ICICI Bank to the UB group's battered airline venture last year.
Number of loans availed by the grounded carrier are backed by shares and other assets of various group companies, including USL. Further, Vijay Mallya-led UB Group has reached an agreement with UK-based global liquor giant Diageo for sale of controlling 53.4% stake in USL for about $2 billion. As part of the deal, Diageo may also acquire USL shares pledged with various lenders.
Srei Venture Capital (SVCL), the fund management arm of Srei Infrastructure Finance, is amongst the most innovative private investment firms in India.
Company Name | CMP |
---|---|
Bajaj Finance | 6729.85 |
Shriram Finance | 2502.00 |
Aditya Birla Capital | 232.15 |
SBI Cards AndPayment | 751.70 |
Chola Invest & Fin. | 1174.00 |
View more.. |