Essel Group Articles

Ratings downgrade
December 6, 2019
Essel Infra bank loan facilities downgraded to default; Franklin Templeton MF’s 4 debt schemes hit

The 4 debt schemes had Rs 493 crore exposure to debt securities of the infrastructure arm of Essel Group which has undertaken several road projects including State Highways

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side pocketing in mutual funds
November 26, 2019
Aditya Birla Sun Life MF creates side-pockets for Zee/Essel group company debt as the latter defaults

Following Zee promoter group company Adilink Infra & Multitrading’s default to bondholders this week, Aditya Birla Sun Life AMC has created segregated portfolios in three schemes

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Pay back time
September 25, 2019
Essel Group exposure: Kotak Mutual Fund pays remaining redemption proceeds to FMP investors

Full redemption proceeds were not earlier paid to investors in Kotak FMP Series 127, 183, 187, 189, 193 and 194 despite maturity

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Debt repayment
September 17, 2019
HDFC Mutual Fund’s aggregate market value of outstanding exposure to Essel group falls 47% to Rs 383.6 cr

HDFC Credit Risk Fund’s aggregate market value of the outstanding exposure to Essel is now Rs 144 crore compared to Rs 271.5 crore earlier

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Debt repayment
September 11, 2019
Cheer for investors as DHFL, Essel pay dues to mutual funds; investors to gain as NAV goes up

HDFC MF, Aditya Birla MF, ICICI Pru Kotak MF get part-paid by Essel; DHFL repays Rs 150 cr to DSP MF

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Debt repayment
August 2, 2019
Aditya Birla MF says the positive impact of Essel/Zee situation to flow in next couple of months

The fund-house has the highest exposure to Essel/Zee group at over Rs 2,500 crore

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Debt exposure
August 1, 2019
Zee stake sale fetches Rs 4,224 cr; ICICI Pru MF says it remains ‘comfortable’ as it may help mutual funds get money back at least partially

Mutual funds, who entered into a standstill agreement with Essel promoters not to sell pledged shares before September 30, believe that they will be paid first once the Zee stake sale money comes in

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Asset management
June 18, 2019
HDFC MF to take Rs 500 cr Essel Group exposure on books to give exit to FMP investors

Although it’s a relief for the FMP investors of HDFC Mutual Fund, it is the shareholders of the listed HDFC Asset Management who are bailing out the FMP investors

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Essel mutual fund
March 20, 2019
Srei Group in talks to buy Essel Mutual Fund

Essel MF has 4 equity schemes, 3 debt schemes, and 4 hybrid schemes. Most of its Rs 1,200-cr assets come from Maharashtra, West Bengal, Delhi, Telangana and Gujarat

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