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Rediff.com  » Business » India Inc asset sales peak in 2016, Essar tops list

India Inc asset sales peak in 2016, Essar tops list

Last updated on: October 18, 2016 16:39 IST

The sale of Essar Oil was India’s biggest deleveraging exercise undertaken by any debt-heavy group

The sale of Essar Oil and related infrastructure to Rosneft and other partners has created many records. The transaction is India’s biggest FDI inflow, apart from being India’s biggest deleveraging exercise undertaken by any debt-heavy group.

In 2016, the sale of assets by Indian corporate sector spiked as economy slowed down and banks became more aggressive in getting their funds back. The global commodity crash also led to many projects becoming unviable.

Be it the Tatas, Ruias, or the Jaypee group, India Inc sold more assets than buying new ones. Here is the list of top transactions undertaken by Indian companies to reduce their debt.

Month
 
Seller
 
Buyer
 
Size(in RS cr)
 
Nov 14 Avantha (Korba) Adani Power 4,200
Oct 16 Essar Global Rosneft, Trafigura, UCP 85,000
Jan 11 Essar Global (Vodafone stake) Vodafone Plc 24,000
Aug 15 Gammon Brookfield 6,750
Dec 13 GMR Malaysia Airports 1,334
Mar 16 GVKPIL Fairfax 2,149
Oct 16 Hiranandani Brookfields 6,800
Oct 16 Jaypee Orient Cement 1,950
Feb 16 Jaypee Ultratech 16,370
Aug 14 Jaypee Shree Cement 360
Mar 14 Jaypee Dalmia Bharat 1,200
Sep 13 Jaypee Ultratech 3,800
Nov 14 Jaypee (hydro) JSW Energy 9,700
May 14 L&T (Dhamra) Adani Ports 5,500
Nov 14 L&T (Karrupalli port) Adani Ports 2,000
Aug 14 Lanco (Udupi power) Adani 6,300
Oct 16 R-Com (51% in tower) Brookfields 11,000
May 16 Rel Infra (11 road projects) GIC, Isquared, Macquarie 8,800
Feb 16 Reliance Cement Birla Corp 4,800
Jan 14 Tata Power Bakrie 3,100
Apr 16 Tata Steel Greybull Capital Nominal value
Jan 14 Videocon(Mozambique stake) ONGC 16,200
Jun 16 Welspun Tata Power 9,249

Illustration: Uttam Ghosh/Rediff.com

Dev Chatterjee in New Delhi
Source: