Piramal Capital & Housing Finance sells bad loans to Omkara ARC

Dated on: Tuesday 4th July 2023

According to two sources familiar with the matter, Piramal Capital & Housing Finance has successfully sold a pool of bad loans with an outstanding amount of ?3,656 crore to Omkara ARC for ?625 crore. The sale, which was concluded last week, resulted in Piramal recovering 17% of the total value. The loan pool comprises accounts obtained through the acquisition of Dewan Housing Finance Limited (DHFL) as well as Piramal's own loan book.