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Bandhan in talks to sell stressed microloans to Phoenix ARC

On Wednesday, Bandhan Bank invited expressions of interest for selling over 1.8 million loan accounts aggregating to a loan book of ₹8,897 crore. It said counteroffers should be at least 5% over the anchor bid of ₹801 crore. The offer from Phoenix ARC is a combination of security receipts and cash, one of the persons cited above said. The bank has invited applicants to submit offers by December 28. Phoenix ARC will have the first right to match the counteroffer, if any.

from Industry-Economic Times
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