NARCL emerges as the top bidder for SREI twins with an NPV of Rs 5,555 cr

Submits highest net present value bid of Rs 5,555 cr; process may complete by early FY24

National Asset Reconstruction Company (NARCL), or the government-backed bad bank to take over stressed assets of lenders, has emerged as the leading bidder in the auction for Srei Infrastructure Finance and Srei Equipment Finance. NARCL’s bid was the highest with a net present value (NPV) of Rs 5,555 crore, banking sources said.

The ‘challenge mechanism’ for the two Srei group companies was conducted on Tuesday by the committee of creditors. The process, consisting of five rounds, lasted about 10 hours. In the final round, there were just two bidders left: NARCL and Authum (with an NPV of Rs 5,526 crore).

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