| Sources informed the restructuring of Birla VXL turned out to be one of the biggest success of Arcil. |
| Arcil took up the Birla VXL case three years ago as networth of the company almost eroded. According to sources, Birla VXL had a debt of Rs 326 crore. |
| The major lenders are Arcil, Bank of India, Union Bank, UCO Bank, Bank of Baroda and State Bank of Saurashtra. |
| Sources said that Arcil had already secured close to Rs 300 crore from the sale of investments of Birla VXL and of OCM India to W L Ross. |
| The stretched asset management fund based in the US, W L Ross would be buying OCM brand along with the facility at Amritsar and the debt held by the division, which is close to Rs 130 crore. |
| The OCM division was transferred to a separate company called OCM India, which in turn was a subsidiary of Birla VXL. |
| Birla VXL had substantial investments in group companies Mysore Cemets, VXL Technologies, Cimmco Birla and Mausuzawa Punjab Silk. |
| "More than 50 per cent of the fund tied up will come from the sale proceeds of OCM India. Besides, Arcil is getting good valuation of other investments including the shares of Birla VXL," said sources. |
| The company is also getting good valuation for VXL Technologies, a wholly owned subsidiary of Birla VXL. |
| Besides, it had also sold the entire stake of Birla VXL in MPSL. According to sources, Arcil would have close to 2.15 crore shares of Birla VXL after the completion of restructuring. |
| This holding would represent approximately 30 per cent stake in the unit. |
| "Arcil is hopes to mobilise at least Rs 75-80 crore from the sale of Birla VXL's share," added sources. |
| The S K Birla group would have close to 32 per cent stake in Birla VXL after the completion of the restructuring. |
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