State-owned Union Bank of India has invited expressions of interest (EoIs) from entities interested in acquiring nonperforming assets (NPAs) totalling 2,316 crore of 45 accounts through an open auction on August 23.
The bank has set a reserve price for the accounts and is expecting a recovery of over ₹1,750 crore, or around 75 per cent of the principal outstanding of these accounts.
The bank has invited EoIs from asset reconstruction companies (ARCs), banks, non-banking financial companies (NBFCs), financial institutions (FIS), and alternative investment funds (AIFS) by August 22.
After this, the bank will invite binding bids on a fullcash basis through the e-auction on August 23. The highest bidder will be declared soon after. Further, the bank will conduct a Swiss challenge auction on August 31 for accounts which receive single bids during the e-auction, as well as for accounts which receive more than one bid.
هذه القصة مأخوذة من طبعة August 13, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة August 13, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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