The offer, which equates to a recovery of 50% for the state-owned bank, has triggered a Swiss challenge auction which is scheduled for April 30. VVF (India) has borrowings of ₹1,400 crore, according to a credit rating report by Crisil Ltd.source https://economictimes.indiatimes.com/industry/banking/finance/banking/phoenix-arc-in-talks-with-banks-to-acquire-vvf-india-loans/articleshow/90786531.cms
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