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The battle for Ricoh India: Jhunjhunwala, Kotak PE lock horns for what was once market’s darling

Even though Dharamshi-Jhunjhunwala consortium’s resolution plan has been approved by NCLT, Kotak Investment Advisors might appeal in the Supreme Court. This is its second attempt against the winning bid after the Bombay High Court rejected its plea last month.
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Maulik
20 Feb 2020 6 Mins Read 0 comment
A Ricoh stall during an event at India Expo Centre and Mart on 17 November 2013; courtesy of Ricoh India via Facebook.
A Ricoh stall during an event at India Expo Centre and Mart on 17 November 2013; courtesy of Ricoh India via Facebook.
Aggressive suitors always line up with uncommon elan and bellicose game plans when they see a treasure trove in stressed assets. UltraTech and Dalmia Bharat fought a fierce battle for Binani Cement. ArcelorMittal scooped up Essar Steel after a prolonged court case. The battle for Ricoh India is the latest case in point. Even
Jhunjhunwala owns around 6.69% in Titan that translates into around INR6,500 crore. He also owns about 7.6% in Crisil and around 8.1% in Escorts, among other stocks. As per Bloomberg data, the investment value of listed stocks of Rekha and Rakesh Jhunjhunwala together is around INR14,000 crore. Get ready for a long-drawn-out battle. ( Graphics by Sadhana Saxena)
Aggressive suitors always line up with uncommon elan and bellicose game plans when they see a treasure trove in stressed assets. UltraTech and Dalmia Bharat fought a fierce battle for Binani Cement. ArcelorMittal scooped up Essar Steel after a prolonged court case. The battle for Ricoh India is the latest case in point. Even Jhunjhunwala owns around 6.69% in Titan that translates into around INR6,500 crore. He also owns about 7.6% in Crisil and around 8.1% in Escorts, among other stocks. As per Bloomberg data, the investment value of listed stocks of Rekha and Rakesh Jhunjhunwala together is around INR14,000 crore. Get ready for a long-drawn-out battle. ( Graphics by Sadhana Saxena)

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