BANKING

The combined outstanding loan amount of this pool was approximately ₹1,300 crore, translating into an immediate recovery of around 23%. ACRE ARC, backed by Ares SSG, emerged as the anchor bidder, offering ₹305 crore in upfront cash for the purchase. Additionally, HDFC is entitled to 65% of all recoveries above ₹85 crore for one group of accounts.

from Banking/Finance-Industry-Economic Times https://ift.tt/eq6x1Sb
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