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Hong Kong-based SSG Capital declared highest bidder for Altico Capital

Updated : March 13, 2020 01:05 PM IST

SSG Capital has offered Rs 2,754 crore as an upfront cash payment to the lenders and another Rs 354 crore in the form of security receipts.
Cerberus has offered Rs 2,600 crore as upfront cash, Rs 450 crore of security receipts and thereafter another Rs 1,000 crore equity infusion after the takeover.
Altico Capital owes over Rs 4,300 crore to 27 lenders led by IFC, Yes Bank, State Bank of India, Bank of Baroda, UTI MF and Reliance MF among others.

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