Aditya Birla ARC, Arcil among companies eyeing SBI's KSK Mahanadi loan

Varde Partners-backed Aditya Birla Asset Reconstruction Company, Kotak Mahindra Bank-backed Phoenix ARC and Avenue Capital-backed Arcil are among a dozen applicants interested in acquiring a ₹3,815-crore KSK Mahanadi Power loan from State Bank of India, said people aware of the matter.

It is the largest stressed loan sale by any bank seeking upfront payment from the buyer. The bank has set a ₹1,544-crore reserve price on the outstanding loan of ₹3,815 crore. So far, most big-ticket distressed loan sales were structured deals involving part payment in the form of security receipts that would be redeemed upon recovery from defaulting borrowers.


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