PHOENIX ARC

IDBI Bank's Stressed Assets Stabilisation Fund (SASF) aims to recover 11.59% by selling non-performing loans worth ₹6,151 crore.

Edelweiss ARC, Phoenix ARC, Omkara ARC, and Prudent ARC eye Indian Overseas Bank's loan portfolio. Sets with reserve prices. ARCs conduct due diligence. Bank reports lower non-performing Assets.

It has offered 15% cash and 85% security receipts for the loans that include one project in Noida and another in Jogeshwari, Mumbai. Phoenix ARC was the only participant in the open auction, the source said. Both Phoenix ARC and IIFL spokespersons d...

Six ARCs, led by Aditya Birla and Kotak Mahindra-backed, control majority debt in KSK Mahanadi Power due to lenders' exits amid debt resolution delays. Prudent ARC recently acquired debt through a Swiss auction, ensuring an 80% recovery for the lend...

The bank had set a Rs 821 crore reserve price on the HNGIL debt, implying a 48% recovery on the total outstanding amount. Nearly half a dozen asset reconstruction companies (ARCs), including Edelweiss ARC and Phoenix ARC, submitted expressions of in...

Several asset reconstruction companies including global fund JC Flowers ARC and Varde Partners-backed Aditya Birla ARC are participating in the Swiss auctions that lenders have initiated for three road projects - Pink City Expressway, Haridwar Highw...

Kotak Mahindra Bank-backed Phoenix ARC and Edelweiss Asset Reconstruction Company are interested in acquiring State Bank of India's loan to Hindusthan National Glass (HNG). Prudent ARC, UV ARC, and Omkara ARC have also submitted expressions of inter...

Rating agency Crisil which had organised the webinar said it expects assets under management (AUM) growth in the sector to moderate to 5% to 6% in fiscal ending March 2025 from 17% in March 2023, which was largely because unlike last fiscal there is...

Around twelve investors, including Asset Reconstruction Company India (Arcil), Aditya Birla ARC, Invent ARC, Omkara ARC, ASREC, UV ARC, Alchemist ARC, Phoenix ARC, and Prudent ARC, have shown preliminary interest in acquiring IDBI Bank's bad loans a...

L&T Finance, a subsidiary of listed L&T Finance Holding, had invited offers from ARCs for a portfolio of ₹5,293 crore comprising 16 accounts. It invited offers from ARCs in a combination of security receipts (SR) and cash payment wherein 15% will be...

The recovery rate is considered good given that these loans were overdue by around 60 days. "The recovery was good as the loan accounts were tagged in stage 2 and chances of recovery are strong," said a source. Non-banking finance companies (NBFCs) ...

Nisus Finance Group and Phoenix ARC have invested approximately Rs 100 crore in a commercial project called Swaminarayan Business Park in Ahmedabad. The investment will allow them to take over the project and exit the loans of the previous lender, D...

The portfolio included six real estate accounts sold for ₹1,075 crore, equating to a 60% recovery for L&T Finance, the people said. The finance company invited offers under a 15:85 structure for ten accounts with a total loan of ₹3,022.5 crore, acco...

The deal has attracted attention as one of the largest transactions in distressed assets, because of debt of marquee real estate projects on sale.

L&T Finance has received 10 expressions of interest (EoI) for 10 distressed developer loan accounts, with a combined outstanding of INR 3,022 crore ($415m). Among the interested parties submitting EOIs are ACRE, Arcil, Edelweiss Asset Reconstruction...

Following a nudge from the finance ministry last fortnight, most govt-owned banks identified companies they would prefer to sell to National Asset Reconstruction Company (NARCL), the people cited above said. NARCL will identify about 20-25 accounts ...

Phoenix ARC bought two loan portfolios from Bandhan Bank worth over ₹4,900 crore for ₹740 crore, equating to a recovery of 15%. Bandhan Bank ran a Swiss Challenge based on the anchor offer from Phoenix ARC on March 27 but did not receive any counter...

An offer of ₹739 crore by Phoenix ARC, made early this week to acquire Bandhan's two pools of bad loans, has triggered a Swiss Challenge auction to be held on March 27, the people said. The offer, a combination of cash and security receipts, will eq...

Phoenix ARC is the largest debtholder after bank lenders sold their loans at a Swiss challenge auction for ₹405 crore last October. The loan auction was triggered by ₹228 crore anchor offer by National Asset Reconstruction Company Ltd, the governmen...