Canara Bank led consortium seeks bids to sell Rs 1,226 cr loans in MMOPL

Quick Summary:

If there are no counterbids in the Swiss auction, the anchor bidder will be declared the successful bidder, subject to lender approval.

MMOPL operates the Versova-Andheri-Ghatkopar metro corridor, India’s first metro project awarded on a public-private partnership basis, covering about 12 km with 12 stations en route.

Entities interested in acquiring the stressed loans must submit expressions of interest (EoIs) by November 6, after which they will be allowed to conduct due diligence on the asset until November 25.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Reliance Infrastructure MMRDA Swiss challenge auction Canara Bank Public-private partnership Canara Bank MCLR MMOPL loans Versova-Andheri-Ghatkopar metro Non-performing loans Mumbai Metro One Private Limited

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News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 15:49:34 (9 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

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Copyright Owner: © Business Standard

News ID: 23363211

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