Metal
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About the Client
  • The company is one amongst the top 5 manufacturers of DI Pipes and fittings in India operating for more than 30 years
  • The total installed capacity of the Company is 4,50,000 TPA
  • The Company has co-generation cum thermal power of 50 MW PA
Our Services
  • Pranjal Corporate Services (“Pranjal”) was appointed as exclusive advisor for the debt resolution of the company
  • Pranjal was instrumental in negotiating and convincing the lenders of the Company for resolution of the debt than exploring time consuming NCLT process
  • With Sale to ARC option, the strategic investor was convinced and negotiated with for the process and taken on board with the transaction
  • Pranjal was instrumental and secured the anchor bidder position for ARC
  • The bidding process enabled fair & maximum price discovery for the lenders ensuring additional recovery of INR 121 Cr
  • Obtained 100% lender’s approval. Swayed the vote of 1 Lender (28% share) in favor of Sale to ARC
Value addition by Pranjal:
  • Negotiated hard with lenders for securing anchor bidder rights i.e., First Right of Refusal (FROR)
  • Strategic investor was able to acquire assets at ~59% of total principal outstanding liability giving a significant leverage to the investor from the competitor
  • The company gets shield from hostile takeover from peers in the market
  • The Company, in the process, was shielded from hostile takeover from peers in the market
  • Lenders recovering significantly higher than the average recovery resulted in stronger relationship for Pranjal
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