Lenders to Lavasa Corporation are set to decide on Thursday on the three offers made for the beleaguered realty company by food major, Haldiram Snacks, the Pune-based builder, Aniruddha Deshpande, and UV Asset Reconstruction Company (UVARC), Business Standard reported.
Haldiram has offered to take over 100 per cent of Lavasa by infusing Rs 2,046 crore through a consortium of Haldiram Snacks, Pioneer Facor IT Infradevelopers, and Sansar Property LLP. This consortium has already participated in the revival process of Bakemans Industries, Kwality, and Temptation Foods
The report said that the Haldiram group has offered to take over 100 per cent of Lavasa, a subsidiary of listed firm Hindustan Construction (HCC), by infusing Rs 2,046 crore through a consortium of Haldiram Snacks, Pioneer Facor IT Infradevelopers and Sansar Property.
As of March 2019, HCC had Rs 3,749 crore debt, according to its annual report 2018-19. The report further stated that Lavasa is jointly held by four shareholders including HCC (68.7 per cent), the Avantha Group (17.18 per cent), Venkateshwara Hatcheries (7.81 per cent) and Vithal Maniar (6.29 per cent.)
On October 10, PTI had reported that the Haldiram group emerged as the sole bidder for acquiring debt-ridden dairy firm Kwality in the ongoing insolvency process with an offer of around Rs 130 crore. Kwality has a total debt of around Rs 1,900 crore, the report said.
