SBI may sale nearly Rs 1,500 crore in loans to ARCs

DSIJ Intelligence / 25 May 2017

SBI may sale nearly Rs 1,500 crore in loans to ARCs

SBI will be inviting expression of interest (EoI) from ARCs for the Adhunik Power account at a reserve price of Rs 723 crore.

State Bank of India (SBI) has put up assets worth Rs 1,471 crore for sale to asset restructuring companies (ARCs) as per leading international news agency.

Adhunik Power & Natural Resource Ltd is largest among the loan accounts on sale by SBI. The lender will be looking to sell loans worth Rs 807 crore and equity worth nearly Rs 200 crore.

SBI will be inviting expression of interest (EoI) from ARCs for the Adhunik Power account at a reserve price of Rs 723 crore.

According to the report, SBI has already received approval from other lenders including IFCI, Allahabad Bank, Oriental Bank of Commerce, Indian Overseas Bank, Dena Bank, UCO Bank, Punjab & Sindh Bank, Andhra Bank, Syndicate Bank and Indian Infrastructure Finance Co Ltd.

SBI is trading at Rs 284.80 per share, up from Rs 1.65 per share or 0.58 per cent on Friday in the opening hours of the trade.

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