Banks offer ₹24,000 cr to Birla Group for ₹14,000-cr acquisition loan
Billionaire Kumar Mangalam Birla's Aditya Birla Group has received bids of ₹24,000 crore for a ₹14,000-crore loan it is seeking to purchase Shell's renewable energy assets in India, Moneycontrol reported. Both SBI and Axis Bank have committed up to ₹7,000 crore each, while Union Bank and PNB have proposed credit lines of ₹5,000 crore each. The RBI allowed Indian banks to fund corporate acquisitions starting this July.
by shortkt.com✓