Billionaire Birla seeks ₹14,000-cr loan to buy another firm, banks rush to offer ₹24,000 cr

Billionaire Kumar Mangalam Birla's conglomerate Aditya Birla Group, which is seeking a ₹14,000-crore loan to buy Shell's renewable energy assets in India, has gotten bids worth ₹24,000 crore, Moneycontrol reported. SBI and Axis Bank each committed up to ₹7,000 crore, while Union Bank and PNB each offered ₹5,000-crore credit lines. RBI allowed Indian banks to finance corporate buyouts from July.