Sreeraj Krishnamoorthy
Singhi Advisors Pvt. Ltd.
Shree Rama Newsprint Ltd
Deal Type
Company sale
Sector
Industrials
Completion Date
23rd October 2015
Deal Value
Not disclosed
Company Background
Shree Rama Newsprint Limited. is India's largest private sector Newsprint and Printing & Writing paper manufacturing facility at a single location, having an installed capacity, based on Virgin Pulp as well as Recycled fibre, to manufacture either 1,44,000 tonnes per annum of Newsprint or 1,80,000 tonnes per annum of Printing & Writing paper or a mix of both. The paper mill was established in 1996.
Deal Summary
Singhi Advisors advised S K Bangur Group controlled West Coast Paper Mills in strategic sale of Shree Rama Newsprint to Riddhi Siddhi Gluco Biols Ltd
Value Added
Singhi Advisors advised S K Bangur Group controlled West Coast Paper Mills (WCPML) in strategic sale of Shree Rama Newsprint (SRNL) to Riddhi Siddhi Gluco Biols Ltd (RSGBL) – all three listed companies on Bombay Stock Exchange (BSE). The transaction presents a rare case where banks (through Joint Lenders Forum) approved change of control and necessary debt restructuring to enable the same (SRNL had ~Rs.3.50 bn debt), backed by commitment from RSGBL to infuse Rs.1.20 bn in SRNL. While the sale helps WCPML to focus on its core business; RSGBL gets a ready industrial platform to re-enter manufacturing sector.
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