DCM PLANS MAJOR REVAMP TO CUT DOWN DEBT BURDEN
Article Abstract:
The Vinay Bharatram group proposes to restructure its companies to reduce its debt burden. It will be disinvesting up to 49 percent stake in the 2 divisions of DCM Limited - DCM Engineering Products and DCM Textiles - to raise Rs150 crore for the group. The group also proposes to disinvest its stake in DCM Dataproducts Limited to raise Rs10-15 crore more. The group has also decided to restructure DCM Financial Limited, which has fixed deposits of Rs65 crore. It has also decided to withdraw from the fixed deposit business. The group now has dues of Rs350 crore. (ag)
Comment:
Vinay Bharatram group will be disinvesting up to 49% stake in 2 divisions of company, DCM Engineering Products & DCM Textiles
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
RIL LOOKS AT S-E ASIA FOR TAKE-OVERS
Article Abstract:
Reliance Industries Ltd is thinking of acquiring petrochemical units in South-East Asia as the currency crisis in that region has made it an attractive proposition. The company has planned investments of Rs12,000 crore in the coming years in core sectors like petroleum, refineries and power. It will look at opportunities in the power sector to increase its capacity to 5000 mw in the medium term. (khr)
Comment:
Is thinking of buying petrochemical units in South-East Asia as currency crisis in region has made it an attractive proposition
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic: