NARCL submitted the highest offer with a net present value (NPV) of â¹5,555 crore, including upfront cash of â¹3,400 crore and optionally convertible bonds worth â¹6,000 crore.
The offer is â¹1,000 crore more than its bid submitted earlier and in line with lenders' expectations.
NPV measures the current value of future cash flows.
Authum Investment, the only other aspirant, revised its bid from the previous â¹2,800 crore to â¹5,526 crore, just â¹30 crore short of the winning bid.
A consortium of Varde Partners and Arena Investors quit the race in an earlier round.
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