Grainotch Revives KGS Sugar with Rs 242 Crore Acquisition
Grainotch Corporation has made waves in the Indian manufacturing sector with its recent acquisition. The corporation, which specialises in distressed asset investments, has taken over KGS Sugar Infra Corporation, a sugar industry giant facing insolvency with liabilities of Rs 556 crore.
The acquisition, approved by the National Company Law Tribunal, comes with a Rs 242 crore revival package. Grainotch Corporation plans to utilise these funds to settle the dues of KGS Sugar Infra Corporation and restart its operations. This move signals growing investor interest in distressed manufacturing assets in India.
Despite the lack of public information confirming the existence of Grainotch Corporation or its role in the takeover, the National Company Law Tribunal's approval indicates a formal process has been followed.
Grainotch Corporation's takeover of KGS Sugar Infra Corporation, along with its planned Rs 242 crore revival package, aims to breathe new life into the struggling sugar industry giant. This acquisition highlights the potential for distressed asset investments in India's manufacturing sector.
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