Rohit Ferro-Tech Limited is one of the largest manufacturers of Silico manganese, Ferro manganese & stainless steel.Acquisition of controlling stake (90%) in RFTL under IBC process by Tata Steel Mining Ltd. (“TSML”), a wholly owned subsidiary of Tata Steel Ltd.
TSML has funded INR 6,171mn towards – settlement of admitted claims of c.INR 42,000mn from financial & operational creditors & Corporate Insolvency Resolution Process (“CIRP”) cost. Additional INR 1,640mn would be infused by TSML towards capex & operations. Financial creditors would also be issued 10% equity towards part conversion of their debt. Resolution plan was approved with 100% voting share of CoC.
Edelweiss Financial Services has successfully closed this transaction as the Exclusive Process Advisor to the Resolution Professional of Rohit Ferro-Tech Limited which resulted in the sale to Tata Steel Mining Limited.
Edelweiss Financial Services
Advised in the sale of
Rohit Ferro-Tech Limited
to