Reliance-Acre submit Expression of Interest (EoI) for ailing SINTEX Industries Ltd

27th October 2021, Mumbai:

Reliance Industries (RIL) teaming up with (ACRE) Assets Care & Reconstruction Enterprise Ltd, Varde Capital-backed Aditya Birla Asset Reconstruction Company, a Welspun Group entity & foreign fund CarVal Investors, etc. have put out expressions of interest (Eol) for ailing (SIL) Sintex Industries Ltd, agencies report.

Sources quote," The other Eol applicants comprise Edelweiss Alternative Assets Advisors Ltd. Asset Reconstruction Company of India, Prudent ARC, Ludhiana based Trident Ltd. Bangalore based Himaksinka Ventures, Punjab based Lotus Hometextile, Mumbai based Indocount Industries, Nitin Spinners, and GHCL.

Although the textile side of Sintex group is interesting as it is supposed be a quality supplier to 'Marquee Global Fashion Brands' such as Armani, Hugo Boss, Diesel, Burberrys of the fashion universe.

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