Reliance ARC buys distressed loans from IOB, Jana SFB

It acquired a principal loan portfolio of ₹141 crore from Indian Overseas Bank at a reserve price of ₹84.8 crore under a structured deal of 25:75. Here, the ARC paid 25% of the transaction value upfront and the balance will be paid in the form of security receipts that will be redeemed as it recovers money from borrowers.

from Banking/Finance-Industry-Economic Times https://ift.tt/2yhPtxi