Lenders of Piramal PE-backed bulk drugs maker take massive haircut in acquisition deal

Lenders of a bankrupt bulk drugs and chemicals maker backed by a Piramal Group promoted private equity fund are staring at a massive haircut following a go-ahead from the insolvency tribunal for the latter’s acquisition.   Chandigarh based Vardhman Chemtech Ltd is set to be acquired by Mumbai-based DPB Antibiotics Private ......