Spandana receives binding bid of Rs 95 cr from an ARC

For transfer of stressed loan portfolio of Rs 323.08 cr

Spandana Sphoorty Financial has received a binding bid from an Asset Reconstruction Company (ARC), amounting to Rs.95 crore, on Security Receipt consideration basis, for the written-off portfolio with outstanding of Rs.323.08 crore as on 30 September 2022.

The Company shall follow Swiss Challenge Method for bidding and decision of sale shall be taken as per extant guidelines governing Swiss Challenge Method and the relevant policy of the Company.

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