Hindustan Dorr-Oliver owes banks over Rs1,400 crore, as of March 2017.
Mumbai: Eight Capital Group and Centrum Capital Ltd are in a race to pick up a majority stake in Hindustan Dorr-Oliver Ltd (HDO), which is currently facing corporate insolvency proceedings, two people familiar with the development said.
Debt-laden IVRCL Ltd, in which banks own a majority stake post conversion of a part of their debt into equity via strategic debt restructuring (SDR), has a 55% stake in HDO.
While Eight Capital has already submitted its expression of interest (EoI), Centrum has been working on it and is likely to submit the same soon, one of the two people cited above said.
HDO, a leading engineering, procurement, construction (EPC) player in the past, …
Read the full article at: http://www.livemint.com/Companies/u7wRNGojGa38gEkY9rksyL/Eight-Capital-Centrum-eye-stake-in-Hindustan-DorrOliver.html