State Bank of India invites EoIs for stressed exposure in Amul Industries

State Bank of India (SBI) on Monday invited expressions of interest (EoIs) from interested entities to acquire its stressed loan exposure of Rs 14.97 crore in Amul Industries through an e-auction on August 7.

SBI holds primary security of Rs 43.49 crore and collateral security of Rs 55.78 crore against its exposure, as well as a third-party guarantee of Rs 52.77 crore.

Interested entities, including asset reconstruction companies (ARCs), eligible non-banking finance companies (NBFCs), banks, and all Indian financial institutions, are required to submit EoIs to acquire SBI's exposure in Amul Industries by July 16.

Entities submitting EoIs will be allowed to conduct due diligence on the asset by August 5, following which binding bids will be invited during the e-auction on a 100 per cent cash basis. The bank has set a reserve price of Rs 14.55 crore for the sale of the asset.