Sintex lenders seek better offer from RIL

Lenders have entered the final stage of negotiation with Reliance Industries (RIL) after declaring it the highest bidder for Sintex Industries. Lenders asked Reliance Industries and Assets Care & Reconstruction Enterprise (ACRE) team to submit an improved offer. The Reliance-ACRE offer equates to a recovery of 36% for lenders, excluding the 15% equity stake.