Rising stress among NBFCs sets the stage for a string of portfolio buyouts

Rising stress among NBFCs, and the difficulty faced by many of them in raising resources, may force the hand of several players

I learn that many non-banking financial companies (NBFCs) are looking at an outright portfolio sale for funding,” says Jaspal Singh Bindra, executive chairman of the Centrum Group, adding: “With banks reluctant to lend, and particularly private banks near-absent, the financing options are limited.” The offers by Oaktree Capital, Adani Properties, S C Lowy and Piramal Enterprises last week either to pick up Dewan Housing Finance Corporation’s entire book for Rs 28,000 crore, or cherry-pick from it, are not being seen as a one-off.
 

The last time talks around portfolios picked up pace was in the aftermath of the global financial