Aircel's spectrum on the block as UVARCL looks to future

摘要

The company selling the assets of bankrupt Indian operator Aircel expects them to raise between INR9.5 billion and INR15.1 billion (US$124.8 million and US$198.4 million).UV Asset Reconstruction Company Limited (UVARCL) has based its projection on a National Company Law Tribunal (NCLT) order. The firm is assuming 74% ownership of Aircel as part of its bankruptcy process, and is aiming to pay the defunct operator's creditors INR66.3 billion across the next five years.Aircel's liquidation value was estimated at INR8.7 billion by the NCLT, against a total INR587.6 billion sought by its creditors. Based on this, UVARCL put in a "much higher" offer for Aircel than expected.