Less than 1% of companies went for restructuring under second offer: Crisil

Rating agency says tepid response despite second wave reflects positive turn in demand outlook, and anxiety about negative stakeholder perception of restructured firms

Less than 1 per cent of the eligible companies opted for the restructuring option offered for the second time by the Reserve Bank of India (RBI) as part of its Covid relief package, rating agency Crisil said on Thursday. The restructuring 2.0 window closed on September 30.

“The tepid response — despite an intense and more virulent second wave of the Covid-19 pandemic — reflects the positive turn in demand outlook, and anxiety about negative stakeholder perception of restructured companies,” Crisil said in a statement.

Crisil’s estimate was based on its rating universe of mostly mid-to-large-sized companies. Crisil qualified that