Educomp Solutions' lenders might go for haircut
New Delhi, 25 OctoberEducomp Solutions' insolvency may see lenders taking deep haircuts, just like in Synergies Dooray Automotive. A company that offers technology solutions to schools, Educomp walked the insolvency route to pay up lenders.Sources handling the insolvency case stated that lenders might have to take more than 50 per cent haircut as dues amounting to almost ~3,000 crore contrasted annual revenue of ~150-200 crore seen over the past few years. For instance, in 2015-16, the company clocked ~223 crore of revenue that resulted in a net loss of ~343.34 crore. As such, serviceability of the debt remained a challenge. Although an option, liquidation will be far worse for the lenders, fetching them just 5 per cent to 10 per cent of their dues, said the sources, explaining that the asset base remains low, most of it comprising intellectual properties.However, three to four investors have shown interest in investing in the company, the sources added. The company's resolution...26-10-2017