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Ujjivan SFB Calls for Counterbids on Arcil's Anchor Offer
Business Standard
|February 25, 2025
Bengaluru-based Ujjivan Small Finance Bank (SFB) has called for counterbids to sell its ₹364.5 crore stressed micro banking portfolio loans through a Swiss challenge auction, triggered by an anchor bid of ₹34.26 crore from Avenue Capital and State Bank of India (SBI)-backed Asset Reconstruction Company (India) Ltd (Arcil), according to multiple sources aware of the development.
The anchor bid for the exposure translates into a haircut of around 90 per cent for the lender. The portfolio put up for sale by the bank comprises 119,478 accounts. The bank has called for counterbids on a cash plus security receipts basis by February 26, with a markup of 5 per cent over the anchor bid. If there are no counterbids, Arcil will be the successful bidder. However, if counterbids are received, Arcil will be given an opportunity
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