NARCL’s ₹3,570-crore offer for the ₹9,234 crore debt held by nine public sector lenders has triggered a Swiss challenge auction. Lenders led by IDBI Bank have invited expressions of interest on October 10 and scheduled an auction on October 27, according to a bid document circulated to ARCs. NARCL will have the right to match the winning bid and take over the debt.
Market Trading Guide: Tata Steel and Uno Minda are stock recommendations for Monday
Indian benchmark indices ended in the red on Thursday dragged by auto, IT and metal bank stocks. While Nifty closed at 22,397.20, down by 73.30