India: Banks led by ICICI initiate sale process for Unimark

India: Banks led by ICICI initiate sale process for Unimark

Unimark Remedies Ltd’s lenders, led by ICICI Bank Ltd, have initiated the sale process of the debt-laden drug maker in an attempt to recover dues, according to two people familiar with the development.

“The sale process has been initiated recently and has seen interest from both strategic and financial investors. The bids will be invited in a couple of weeks,” said one of the two people cited above, declining to be named.

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