Private equity consortium takes scissors to agritech firm’s debt

By Beena Parmar

  • 16 Feb 2021
Premium
Credit: 123RF.com

An asset reconstruction company (ARC), backed by Kotak Mahindra Group, has managed to sell a stressed agri biotech firm to a private equity consortium in a deal entailing a haircut.  Phoenix ARC Pvt Ltd, in which Kotak Mahindra Investments owns 49% stake, had bought debt/loan of ProSeed India Ltd from Dhanlaxmi Bank ......

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