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Piramal Capital & Housing Finance to sell more loans for Rs 1,669 crore

Dated on: Wednesday 5th July 2023

Piramal Capital & Housing Finance is currently engaged in discussions to sell a distressed loan portfolio amounting to ?2,437 crore, which is spread across 14 accounts, to JM Financial ARC for ?1,669 crore. This proposed transaction would result in a recovery of 68% on the loan amount. To facilitate a transparent process and optimize the value of the asset, the loan was put up for sale through a Swiss auction, which involves a competitive bidding mechanism. The auction was concluded on June 27, with JM Financial ARC emerging as the main bidder. As no other interested parties came forward, the loan will be sold to the anchor bidder.

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