NARCL highest NPV bidder with Rs 5,555-cr offer in Srei resolution

The government-backed National Asset Reconstruction Company Ltd has taken lead in taking over two stressed entities of the Srei group as it submitted the "highest net present value bid of Rs 5,555 crore" among bidders. NARCL's net present value bid, submitted in the 10-hour-long "challenge mechanism" conducted by the committee of creditors (CoC) on Tuesday, constitutes Rs 3,200 crore in cash, a Rs 1000-crore jump from the previous plans offered

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