Try GOLD - Free
NARCL Places ₹631 Cr Bid for BGR Energy's Stressed Debt
Business Standard
|August 20, 2025
State-owned National Asset Reconstruction Ltd. (NARCL) has placed an anchor bid of ₹630.67 crore for the stressed debt of Chennai-headquartered BGR Energy Systems, which amounts to over ₹3,500 crore, from a consortium of lenders through Swiss challenge auction, said a source aware of the development.
NARCL has placed the bid on a 15:85 cash:security receipt basis, in which it will pay 15 per cent of the total consideration offered upfront, and the balance 85 per cent through issuance of security receipts. The anchor bid translates into a recovery of 18 per cent for the lenders.
A consortium of lenders, including State Bank of India (SBI), Canara Bank, IDBI Bank, Punjab National Bank, Indian Bank, Bank of India, Union Bank of India, Central Bank of India, and Bank of Baroda have a fund-based outstanding of ₹2,920.49 crore and non-fund based outstanding of ₹591.84 crore as on July 31, aggregating to ₹3,512.33 crore towards the company.
This story is from the August 20, 2025 edition of Business Standard.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Business Standard
Business Standard
When faith turned to power
Once a quiet riverside ritual, Dev Deepawali has evolved into UP’s largest soft-power spectacle — merging faith, art, and enterprise into a global cultural brand that reflects the state’s growing confidence
3 mins
November 04, 2025
Business Standard
Oil imports from US at 4.5-year high in October
Russian supply also stays strong
1 mins
November 04, 2025
Business Standard
Green energy to power new Assembly
The new building of the Chhattisgarh Assembly will be fully powered by green energy, with solar projects being installed in phases.
1 min
November 04, 2025
Business Standard
PM rolls out ₹1 trn RDI fund for 'high-risk, high-impact projects'
Prime Minister Narendra Modi on Monday unveiled a ₹1 trillion research, development and innovation (RDI) fund aimed at spurring private sector-led research and technological advancement across the country.
2 mins
November 04, 2025
Business Standard
Policy transparency
Report on failure to achieve the inflation target must be released
2 mins
November 04, 2025
Business Standard
SC confronts Trump, his tariffs in test of prez power
Again and again since US President Donald Trump returned to the White House, the Supreme Court's conservative majority has blessed his boundary-pushing policies, allowing them to take effect on an interim basis while litigation plays out in the lower courts. But on Wednesday, the justices will consider for the first time whether to say \"no\" to Trump in a lasting way.
3 mins
November 04, 2025
Business Standard
Women's World Cup glory opens 'brand' new innings
When the winning catch nestled into captain Harmanpreet Kaur’s palms around Sunday midnight, the ball wasn’t just a piece of stitched leather anymore. It became part of history — the moment India’s women cricketers claimed their maiden ODI World Cup and, in doing so, set the stage for a surge in their brand value.
2 mins
November 04, 2025
Business Standard
Microsoft to invest over $15 bn in UAE
Secures export licences for Nvidia chips
1 min
November 04, 2025
Business Standard
SC allows govt to offer relief on all Vi dues
The Supreme Court on Monday modified its earlier order of October 27, allowing the Centre to take a call on the entire adjusted gross revenue (AGR) dues of Vodafone Idea (Vi) instead of just the additional demand of ₹9,450 crore, of which ₹5,606 crore pertains to 2016-17.
2 mins
November 04, 2025
Business Standard
Blackwell AI chip not for 'other people': US Prez
Nvidia's advanced Blackwell chip for artificial intelligence would not be available to \"other people,\" US President Donald Trump said Sunday.
1 min
November 04, 2025
Listen
Translate
Change font size