Muthoot Capital Services Ltd updates on transfer of stressed loan portfolio

Based on the approval of the Board of Directors of Muthoot Capital Services Limited for transfer of stressed loan portfolio (Financial Assets) to Asset Reconstruction Company ("ARC"), the Company has received a binding bid from an ARC, amounting to Rs.117.55 Crores, on Cash and Security Receipt consideration basis, for the stressed loan portfolio with principal outstanding of Rs. 235.10 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. 408.50 as compared to the previous close of Rs. 405.80. The total number of shares traded during the day was 2050 in over 245 trades.

The stock hit an intraday high of Rs. 424.05 and intraday low of 403.60. The net turnover during the day was Rs. 847911.00.

Source : Equity Bulls

Keywords

MuthootCapitalServices INE296G01013 StressedLoanPortfolio ARC SwissChallengMethod