On August 17, Union Bank issued a tender inviting bids for the power company’s Rs 2,077-crore debt at a reserve price of Rs 919 crore for upfront cash, which was lower than Rs 935 crore reserve price set in mid-July, where it failed to attract any offers. Union Bank’s revised reserve price equated to a recovery of 44 paise on a rupee.source https://economictimes.indiatimes.com/industry/banking/finance/banking/no-takers-for-union-banks-bad-debts-despite-lowering-reserve-price/articleshow/93974708.cms
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