Creditors have asked the promoters of beleaguered Vishal Retail to tap investors to expand the equity capital. The move, aimed at lowering debt, was part of a package discussed by lenders before they take up a proposal under the corporate debt restructuring (CDR) mechanism.
“Many private equity players have shown interest in the retail chain. The terms sheet is in place to negotiate for investments,’’ said a senior public sector bank executive.
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