Muthoot Capital Services Ltd receives binding bid from ARC for stressed loan portfolio

Muthoot Capital Services Limited has received a binding bid from an Asset Reconstruction Company, in connection the transaction involving the transfer of stressed loan portfolio (Financial Assets) to an Asset Reconstruction Company, which is being executed in accordance with the approval of the Board of Directors. The bid amounts up to Rs. 96 Crores, for the stressed loan portfolio with a Principal Outstanding of up to Rs. 209.10 Crores.

The Company shall follow Swiss Challenge Method for further bidding and a final decision on sale of the referred assets shall be taken as per extant guidelines and the relevant policy of the Company.

Shares of Muthoot Capital Services Limited was last trading in BSE at Rs. 205.10 as compared to the previous close of Rs. 206.20. The total number of shares traded during the day was 2001 in over 200 trades.

The stock hit an intraday high of Rs. 208.25 and intraday low of 202.50. The net turnover during the day was Rs. 409351.00.

Source : Equity Bulls

Keywords

MuthootCapitalServices INE296G01013 NBFC BindingBid ARC StressedLoanPortfolio