SREI Infrastructure Finance to bid for Electrosteel Steels

Apart from SREI, Tata Steel, Edelweiss Asset Restructuring Company and Piramal Group are some of the other suitors for the stressed company, according to reports

SREI Infrastructure Finance Limited will bid for Electrosteel Steels, one of the 12 cases that have gone to the National Company Law Tribunal for insolvency.

SREI Chairman and Managing Director Hemant Kanoria says his company is interested in Electrosteel Steels, in which it has an exposure of ~300 crore. One of the views of the creditors of Electrosteel Steels is that a one-time payment as a settlement of dues could be considered as a resolution, says Kanoria.

Apart from SREI, Tata Steel, Edelweiss Asset Restructuring Company and Piramal Group are some of the other suitors for the stressed company, according