Photo Credit: Ruby Sharma
State Bank of India (SBI) on Monday called for expressions of interest (EoIs) from interested entities to acquire its stressed loan exposure of Rs 14.97 crore in Amul Industries through an e-auction on August 7.
SBI has primary collateral of Rs 43.49 crore and collateral of Rs 55.78 crore for its exposure, as well as a third-party guarantee of Rs 52.77 crore.
Interested entities, including asset restructuring companies (ARCs), eligible non-banking financial companies (NBFCs), banks and all Indian financial institutions, will have to file EoIs by July 16 to acquire SBI’s exposure in Amul Industries.
Entities filing EoIs will be allowed to conduct due diligence on the assets by August 5, following which binding bids will be invited during the e-auction on a 100 per cent cash basis. The bank has fixed a reserve price of Rs 14.55 crore for the sale of the assets.
First print: 08 Jul 2024 | 17:22 IST