iconiifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

Omkara ARC makes all-cash bid for HDFC's non-performing loan portfolio

24 Mar 2023 , 08:22 AM

Omkara Asset Reconstruction Company has bid Rs1,195 crore for India's leading mortgage lender HDFC's wholesale bad loan portfolio, which includes several developer loans, including the Radisson Blu Hotel in Ghaziabad.

Omkara ARC's offer for the loan portfolio is a full cash bid.

Sources reveal that several prominent asset reconstruction firms reviewed HDFC's loan portfolio, with Omkara ARC emerging as the sole bidder for the complete portfolio. 

HDFC is currently assessing the offer and is anticipated to make a decision within the next few weeks. To optimize recovery, the lender may seek additional bids. HDFC is on track to finalize its proposed merger with HDFC Bank over the next six months.

As per an insider, HDFC is not in a hurry to finalize the deal before the end of this month. Apparently, Omkara's offer is lower than expected, and as a result, HDFC may invite bids from other asset reconstruction companies before proceeding with the sale.

It is predicted that HDFC's recuperation from the sale of the loan portfolio will be less than what it was in previous rounds. In an earlier transaction, Assets Care and Reconstruction Enterprise (ACRE) paid Rs 270 crore for four corporate accounts from HDFC, which had a total loan value of Rs 577 crore. This led to a 47% recovery rate.

HDFC has put up a portfolio for sale, which comprises a loan of Rs 600 crore extended to the Radisson Blu hotel located in Ghaziabad, and approximately Rs 595 crore worth of loans granted to six to seven real estate developers in various cities.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • Bad Loan Portfolio
  • hdfc
  • Omkara ARC
sidebar mobile

BLOGS AND PERSONAL FINANCE

Images
28 Mar 2024   |   03:36 PM
Images
28 Mar 2024   |   03:01 PM
Images
28 Mar 2024   |   01:21 PM
Images
28 Mar 2024   |   01:02 PM
Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.