menu icon

L&T Finance sells real estate loans to Phoenix ARC for over Rs 1,000 crore

Dated on: Tuesday 4th July 2023

According to individuals familiar with the matter, L&T Finance, a subsidiary of the publicly listed L&T Finance Holdings, recently conducted an auction where they sold a distressed portfolio of loans worth ?1,800 crore to Phoenix Asset Reconstruction Company (ARC), which is backed by Kotak Mahindra Bank. Within this portfolio, there were six real estate accounts that were successfully sold for ?1,075 crore, resulting in L&T Finance recovering 60% of the total value. To facilitate the sale process, the finance company had earlier invited offers for ten accounts with a combined loan amount of ?3,022.5 crore, following a 15:85 structure. This invitation was made through a notice posted on the finance company's website in the early part of the previous month.

More News
jcb truck1 car1 car2 truck2

About RERA Filing

RERA Services

Useful Links

RERA in states

Contact us

Disclaimer - RERA Filing is a private company which do registration and RERA Consultancy. It is not a government organisation.

Copyright © 2023 RERA Filing. All rights reserved.