Goldman Sachs-led group offers Rs 1,800 crore lifeline to Birla Group's Kesoram Goldman along with an Edelweiss fund have agreed to infuse Rs 1,600 crore in the form of 5 year debentures. Another Rs 200 crore will be used for working capital requirements and other general corporate purposes as part of RBI's resolution plan for stressed assets. There is a possibility of a third investor but that is not yet finalised.
Birla Tyres scouts for partners for strategic collaboration The tyre manufacturer's CEO P Radhakrishnan said plans were afoot to raise about Rs 200 crore in combination with fresh equity and debt.
Birla Tyres in talks with multiple partners for collaboration across tyre segments Addressing shareholders at the companys virtual annual general meeting on Tuesday, Birla Tyres chairperson Manjushree Khaitan, said, the company would focus on leveraging its past legacy to pitchfork the brand across tyre segments, including off-road and other specialty categories.