8/6/22, 12:53 PM hindusthan national glass: Nirma makes ₹1,650-crore offer for Hindusthan National Glass - The Economic

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Business News › Industry › Ind'l Goods/Svs › Paper / Wood / Glass/ Plastic/ Marbles › Nirma makes ₹1,650-crore offer for Hindusthan National Glass

Nirma makes ₹1,650-crore offer for Hindusthan

National Glass
By Sangita Mehta, ET Bureau Last Updated: Jul 29, 2022, 12:37 AM IST
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Synopsis

ec n a n i F j
Africa-based bottle maker Madhvani Group and AGI Greenpac, known as makers of

ec n a n i F j a j a B
Hindware products, also submitted separate resolution plans for the Kolkata-based
bottle maker undergoing insolvency proceedings.

Nirma Ltd, popularly known as the

iStock

maker of detergent soap and cosmetics,

Bajaj
has submitted a ₹1,650 crore plan to
acquire bankrupt
Hindusthan National Glass
Finance
NSE 4.24 % & Industries, the country's
largest glass bottle maker, two people Fixed
Deposit
Hindusthan National Glass & Industries is India's
aware of the matter, said.

biggest manufacturer of glass bottles.

Africa-based bottle maker Madhvani

Group and AGI Greenpac, known as makers of Hindware products, also
submitted separate resolution plans for the Kolkata-based bottle maker Bajaj Finance
undergoing insolvency proceedings.

Karsanbhai Patel-promoted Nirma proposed ₹1,625 crore upfront payment to

lenders and ₹25 crore distributed among employees who are operational
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creditors, the people cited above said. "However, if Nirma's offer is conditional,
it could lose its highest bidder position," a third person said.

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