IL&FS Fin Services plans to sell 62 NPAs accounts worth ₹4,297 crore via Swiss Challenge method
The Hindu
IFIN also said it has received a binding offer (initial bid) from an initial bidder for the asset book
IL&FS Financial Services (IFIN), wholly-owned subsidiary of Infrastructure Leasing and Financial Services, on Monday placed 62 non-performing asset (NPA) accounts worth ₹4,297 crore on sale.
The lender said the sale of NPAs will be done through the 'Swiss Challenge' route.
Under the Swiss Challenge method, the highest bid in the first round of bidding becomes the base price for bidders, including for the highest bidder, to place counter-bids in the second round of bidding. The asset goes to the highest bidder in the second round.
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