Omkara ARC emerges as winning bidder for SASF's Rs 6,151 cr NPA portfolio

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Omkara ARC emerges as winning bidder for SASF's Rs 6,151 cr NPA portfolio - Business Standard

Quick Summary:

It had appointed Ernst & Young LLP as the process adviser for assisting with the proposed assignment or sale of the NPA portfolio, according to an auction notice on its website.

Initially, SASF received 18 EoIs from interested entities, including NARCL, Omkara ARC, Phoenix ARC, Prudent ARC, CFM ARC, and JC Flowers ARC, among others.

Following a lack of binding bids, SASF revised its reserve price downwards for the portfolio to Rs 642 crore from Rs 713 crore earlier.