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S Kumars & other firms battle for OCM acquisition
05 Apr '06
1 min read
S Kumars Nationwide is fighting hard against stiff competition offered by a leading Ahmedabad-based textile firm along with three other foreign private equity firms in a bid to get hold of the textile arm of SK Birla, OCM.
Asset Reconstruction Company (India) (Arcil) urged the interested buyers to place their bids on OCM which is being treated as an independent company.
Tuesday was the last day for accepting applications.
Fabric manufacturing unit of OCM in Amritsar with the capacity of 8.4 million metres of suiting fabric is being put on sale under a debt recast program.
This is expected to facilitate strategic investments for its turnaround. Arcil had taken over a major part of the company's total debt to the tune of Rs432 crore.
OCM India has two brands, OCM and Digjam, which includes a range of all-wool worsted and wool-blended worsted suitings along with a popular range of tweeds.
Asset Reconstruction Company (India) (Arcil) urged the interested buyers to place their bids on OCM which is being treated as an independent company.
Tuesday was the last day for accepting applications.
Fabric manufacturing unit of OCM in Amritsar with the capacity of 8.4 million metres of suiting fabric is being put on sale under a debt recast program.
This is expected to facilitate strategic investments for its turnaround. Arcil had taken over a major part of the company's total debt to the tune of Rs432 crore.
OCM India has two brands, OCM and Digjam, which includes a range of all-wool worsted and wool-blended worsted suitings along with a popular range of tweeds.
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