2 Williamson Magor Group companies in advanced talks to recast loans

Promoters are also exploring capital infusion into certain promoter group companies and monetisation of certain assets of the group

Discussions between lenders and bankers over the debt restructuring of two Williamson Magor Group companies are at an advanced stage, Chairman Aditya Khaitan informed shareholders of group firm Eveready Industries India — the battery maker of the group — on Tuesday.

Faced with debt challenges at the group level, Williamson Magor has been charting separate resolutions for its companies.

With a resolution plan coming into effect, these companies will be able to generate cash flows within the next few years and restructure payments to the holding company, which will be used to repay Eveready’s dues.

Eveready does not require debt