The Piramal Group has sold its bad loans worth ₹531 crore to Omkara Asset Reconstruction Co., including properties like a JW Marriott hotel and a Crowne Plaza unit. The deal was done at a premium, resulting in a profit of over ₹700 crore for Piramal. The loans were initially sold to Omkara ARC in a structured deal, with 15% paid in cash and the rest issued as security receipts.
NTPC Q2 Results: Net profit grows 14% to Rs 5,380 crore
The Board of Directors also approved the first interim dividend of Rs 2.50 on the face value of paid-up equity shares of Rs 10 each
October 24, 2024