A minority stake sale could fetch around $10 billion to $15 billion, valuing the Indian company’s refining and petrochemicals businesses at around $55 billion to 60 billion.
Overall bank loans increased 13.24% on-year to Rs 97.67 lakh crore in the fortnight to March 29. Pace of credit growth in FY18 was 9.85%.
Industry watchers said the last-minute bailout may mark the beginning of a more harmonious relationship between the two brothers after more than a decade of strained ties.
With the SC holding three group companies in contempt and threatening Anil with jail, Mukesh threw him a lifeline just two days ahead of deadline.
The 1,400-km pipeline, owned by Mukesh Ambani’s holding companies, connects Kakinada on the Andhra coast to Bharuch in Gujarat.
The court’s comments come on the back of RCom’s request that Rs 260 crore of tax refunds held in a trust fund by lenders be released on behalf of the telco to pay Swedish telecom gear maker Ericsson.
Chairman Mukesh Ambani had announced plans to launch Jio GigaFiber at the 2018 AGM.
A bench headed by Justice Rohinton F Nariman ordered Ambani and the RCom companies to pay up Rs 453 crore with interest within four weeks.
Ericsson had accused Ambani and others of going back on the undertaking given to the court that they would pay Rs 550 crore to the Swedish telecom company.
On February 1, RCom’s board reviewed the progress of the company’s debt resolution plans since the invocation of strategic debt resolution on June 2, 2017.