 "NBFC")
More non-banking financial companies ( NBFCs) could be forced to sell their non-core businesses as they grapple with funding challenges and solvency risks. Brokerage firm CLSA said NBFCs facing this double-whammy could off-load non-core assets worth Rs 15,000 crore-Rs 20,000 crore.
“NBFCs with higher leverage (asset-equity ratios of say more than eight-times), or those that have seen downgrades to credit ratings or are facing significant funding constraints from lenders, are likely to explore options for stake sales. Leverage at the promoter level and the pledge of stakes could also drive such sales," analysts at CLSA said in a note.
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