Aircel, which is majority owned by Malaysia’s Maxis Communications Bhd, has initiated informal talks with its bankers for restructuring its debt. The company has sought to change the terms of INR 23,000- 24,000 crore ($4.25 billion – $4.43 billion) of loans for which repayment starts in January. Aircel has sought extension of the term of the loan as well as permission to issue bonds, which will later converted into equity. (The Economic Times)
UT plans to sell its unit: UT Ltd. is looking to sell or transfer or otherwise dispose of Hosur unit, subject to the approval of banks and members of the company by way of postal ballot. The company has already received the approval from its board for the proposed sale. (BSE)
Adani Enterprises plans to sell stake: Adani Agro Pvt. Ltd. , which is a part of the promoter group of Adani Enterprises Ltd. is looking to sell stake in the company through a sale on the separate window provided by the BSE Ltd. for this purpose. The company would sell 8.5 million shares in the transaction. The Sale shall take place on the separate window of the Stock Exchange and shall commence on March 04, 2013. SIBCAP Securities Ltd. is the manager to the issue. (BSE)
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