With top corporates led by the Aditya Birla group, Piramal-Bain and private equity firm KKR making big bang entry into the asset reconstruction business, India’s largest asset reconstruction firm, Edelweiss ARC is getting ready with its own arsenal to tap the next wave of bad loans which are expected to be sold by the banks in the coming months.
Lenders are currently sitting on bad loans worth at least Rs 10 trillion and will offer acquisition opportunity worth Rs 1.4 trillion to the Asset Reconstruction Companies (ARCs). "We estimate that there is huge market which will open up in the coming months as more companies are added to the NPA list. There is enough room for every player. Even with new entrants, the fund requirements for ARCs would be huge and will not be enough,” said R K Bansal, Managing Director and CEO of Edelweiss Asset Reconstruction Company Ltd.
No comments:
Post a Comment