Biggest play: NARCL offers ₹10,000 crore for JP Associates’ loans

March 11, 2024

In the case of JAL, State Bank of India has the largest debt hold at 26%, followed by ICICI Bank at 19% and IDBI Bank at 11%. The company has total principal outstanding debt of ₹17,700 crore as of March 2023. This includes ₹650 crore that Ares SSG Capital-backed Asset Care & Reconstruction Enterprises (ACRE) acquired from Yes Bank and Karnataka Bank. The people said NARCL’s ₹10,000 crore offer excludes the debt held by ARCE.

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