ACRE raises binding offer for debt of Visa Steel

ACRE, an ARC, has given a revised offer of ₹243 crore as against its previous offer of ₹230 crore, the people said. ACRE was the sole bidder at an auction held by SBI on February 10 for ₹697.2 crore Visa Steel loans, as reported by ET on February 24. The binding offer by ACRE at that auction would have triggered a Swiss challenge auction, as per the sale document issued by SBI.

from Banking/Finance-Industry-Economic Times https://ift.tt/gSU2jDf