Sahara Hospitality stressed asset: 18 ARCs express interest in Sahara Star

Once the entities that have submitted EoIs complete their due diligence, binding bids for acquiring the exposure will be invited

Around 17 to 18 expressions of interest (EoIs) have been received for acquiring the ₹728.58 crore stressed exposure of a consortium of banks led by Union Bank of India in Sahara Hospitality Ltd, according to people familiar with the matter. The due diligence period has been extended until May 20, after which binding bids will be invited for the acquisition.

 

Multiple asset reconstruction companies (ARCs) including Asset Reconstruction Company (India) Ltd, Phoenix ARC, JM Financial ARC, Edelweiss ARC, among others have given EoIs for acquiring the stressed exposure of the consortium of banks.

 

Other banks in the consortium include UCO