L&T Finance gets 10 expressions of interest for distressed developer loans
L&T Finance has received 10 expressions of interest (EoI) for 10 distressed developer loan accounts, with a combined outstanding of INR 3,022 crore ($415m). Among the interested parties submitting EOIs are ACRE, Arcil, Edelweiss Asset Reconstruction, Kotak Mahindra-sponsored Phoenix ARC, and Omkara Assets Reconstruction. The largest loan available for sale is attributed to Nirmal Lifestyle Developers, with an amount of INR 790 crore followed by Nirmal Lifestyle Malls at INR 251 crore and Supertech at INR 515 crore.
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