Essar to deleverage Rs 1.25 lakh cr debt if its offer for Essar Steel is accepted

Ruia-family owned Essar Group would deleverage about Rs 1.25 lakh crore of debt - the largest by any corporate if its offer to repay lenders of Essar Steel in full is accepted, company sources said.

Essar to deleverage Rs 1.25 lakh cr debt
Essar plans to legally challenge the decision as it believes its offer would ensure 100 per cent recovery for lenders while accepting ArcelorMittal's offer would entail a haircut, sources said. Image Source: Reuters

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