NARCL emerges as the highest bidder for SREI with NPV of Rs 5,555 cr

National Asset Reconstruction Company Ltd (NARCL) emerged as the highest bidder in the auction for two finance companies - Srei Infrastructure Finance and Srei Equipment Finance – which began on Tuesday. NARCL's bid was the highest with a Net Present Value (NPV) of Rs 5,555 crore.

In the final lap, there were just two bidders in the fray - NARCL, and Authum with an NPV of Rs 5,526 crore.

NARCL's bid includes upfront cash of Rs 3,000 crore and issuance of optionally convertible bonds worth Rs 6,000 crore, banking sources said.

Three bidders - Varde Partners and Arena consortium, NARCL