Phoenix ARC Pvt Ltd declared winner of part of stressed loan portfolio of Muthoot Capital Services Limited

Muthoot Capital Services Limited had conducted the bidding process in accordance with Swiss Challenge Method prescribed under RBI Master Direction dated 24th September 2021, (updated as on December 05, 2022).

Pursuant to non-receipt of any counterbid to the Base Binding Bid of Rs. 117.55 Crores, with respect to an identified stressed loan portfolio with principal outstanding of INR 235.10 Crores from Phoenix ARC Private Limited, during the Bidding process which had concluded on September 29, 2023, Phoenix ARC Private Limited is declared as the winner of Bid under Swiss Challenge Method.

Further, pursuant to the Binding Bid received by the Company from Phoenix ARC Private Limited in relation to sale of the identified pool of stressed loan portfolio, the Company will be completing the transaction and take other necessary action as may be appropriate in this regard.

Shares of Muthoot Capital Services Limited was last trading in BSE at Rs. 436.90 as compared to the previous close of Rs. 428.50. The total number of shares traded during the day was 1983 in over 194 trades.

The stock hit an intraday high of Rs. 443.40 and intraday low of 428.10. The net turnover during the day was Rs. 864714.00.

Source : Equity Bulls

Keywords

MuthootCapitalServices INE296G01013 SwissChallengeMethod StressedLoanPortfolio PhoenixARC