Edelweiss ARC builds war chest to shop for NPAs

Plans to invest Rs 12,000-13,000 crore over the next two-three years

Edelweiss Asset Reconstruction (EARC), the largest player in the growing distressed assets sector, has built up a formidable war chest to buy out stressed assets over the next couple of years. The company is gearing itself for the big opportunity as the government and the Reserve Bank of India (RBI) look for ways to de-stress the banking system it sees the new corporate insolvency regime as a game changer for the sector.
 
“We plan to invest Rs 12,000-13,000 crore over the next two-three years,” Siby Anthony, managing director and CEO, EARC, told Business Standard in an interview. About $650