The committee of creditors will again meet to discuss the measures for recovery of Essar Steel suggested by ArcelorMittal and Numetal.
Penna Cement has hired Edelweiss Financial Services Ltd, IIFL Holdings Ltd and JM Financial as book runners for the offering
The committee of creditors (CoC) is expected to meet in the next three days to discuss whether bids should be invited from new resolution applicants.
QInvest had bought the 26% stake in the financial services company in 2011 for Rs250 crore.
IHH Healthcare and Fosun International have submitted non-binding offers for Fortis hospitals, TPG-Manipal and Munjal-Burman have submitted sweetened binding offers
Fortis Healthcare has raised Rs150 crore bridge loan from RattanIndia Finance to keep the struggling hospital operator afloat till it finds a buyer
Some investors are already anticipating that the firm may be admitted for insolvency proceedings if there are more delays in arriving at a resolution plan.
Many hurdles remain in the Fortis-Manipal deal to create India’s largest hospital chain, but Ranjan Pai is not ready to give up on the acquisition
JSW Steel Ltd is bidding for debt-ridden Essar Steel Ltd in alliance with Numetal Mauritius
The Fortis-Manipal deal is also likely to face hurdles from Japanese drug maker Daiichi Sankyo.