NEWS
Canara Bank puts Rs 577-crore Supreme Housing loan for sale
Canara Bank invites bids from ARCs, financial institutions and NBFCs; Rs 500 crore is fixed as reserve price.
Canara Bank invites bids from ARCs, financial institutions and NBFCs; Rs 500 crore is fixed as reserve price.
Canara Bank has put its Rs 577-crore stressed loan exposure of real estate firm Supreme Housing and Hospitality on sale, with Rs 500 crore as reserve price.
The state-owned bank has invited bids from financial institutions, NBFCs and asset reconstruction companies (ARCs) for the sale through a Swiss challenge auction on all-cash basis.
The bid submission and opening date is 21 February.
The bank will declare the anchor bidder on 24 February. E- auction will be conducted on 13 March and the final successful bidder will be announced on 16 March.
