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.
Midcap Meltdown: 12 stocks slide up to 50% from 52-week highs, FIIs cut stakes
The broader market has undergone a sharp correction, with the Sensex falling nearly 8% from its 52-week high. In contrast, the BSE 150 MidCap index