Indian Overseas Bank Receives Interest for Bad Loan Sale

25 Jan 2025 CW Team

Chennai-based Indian Overseas Bank (IOB) has received up to 10 expressions of interest (EoIs) from asset reconstruction companies (ARCs) for purchasing a mix of large and small loan accounts that the bank put up for sale earlier this month, according to sources familiar with the matter. The total bad loans on sale amount to Rs 6.38 billion and include unsecured education loans and loans given to micro and small enterprises (MSMEs). Loans with outstanding amounts up to Rs 30 million were made available for sale last month. This is the bank's second such process recently, following an earlier sale of Rs 115 billion in corporate bad loans earlier this month. For the Rs 2.45 billion ($30 million) in unsecured education loans, IOB has set a reserve price of 50% of the outstanding value, or Rs 1.22 billion. The bank expects at least 25% of the bid amount to be paid in cash, with the remaining 75% in security receipts (SRs) redeemable after recovery. Similarly, for the Rs 3.93 billion in MSME loans, the reserve price is set at 40% of the outstanding value, or Rs 1.57 billion, with the same cash-to-SR payment structure. Interested bidders can participate in the e-auction for these accounts scheduled for January 31.(ET)

Real Estate

17 Sep 2025

Indian REITs Offer 6-7.5 per cent Yield, Surpassing Many Global Markets

Indian Real Estate Investment Trusts (REITs) are delivering average yields of 6–7.5 per cent for unitholders, outperforming many mature markets, including the US, according to a report by Credai and Anarock.Credai, the apex body of Indian real estate developers, and property consultant Anarock released the report Indian REITs – A Gateway to Institutional Real Estate at an event in India.Currently, India has five listed REITs – Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, Nexus Select Trust, and Knowledge Realty Trust. Nexus Select Trust pr..

Insolation Energy Wins 226 MW Solar Projects Under PM-KUSUM

Insolation Energy on Monday announced securing multiple solar projects totalling 226.45 MW, with an investment of Rs 7.5 billion, under the PM-KUSUM scheme. The orders were awarded to its wholly-owned subsidiary, Insolation Green Energy Pvt Ltd, by Jaipur Vidyut Vitran Nigam Limited for 20 sites and Ajmer Vidyut Vitran Nigam Limited for 115 sites, the company informed the exchanges.“The combined SPV solar power plants will total 226.45 MW under PM-KUSUM Component A, with the final levelised tariff at Rs 3.04 per unit for 16 sites, Rs 2.82 per unit for 5 sites, Rs 2.75 per unit for 53 sites, ..

Numaligarh Refinery Awards EPC Contract for Rooftop Solar Projects

State-owned Numaligarh Refinery Ltd. (NRL) has awarded a Letter of Award to Solarium Green Energy Ltd. for the rate contract covering the Engineering, Procurement, and Construction (EPC) of grid-connected rooftop solar PV projects at various locations. The projects fall within the categories of 51–200 kW and 201–1000 kW. Notable projects include a 140 kW rooftop solar plant at NRL Assam, a 760 kW plant at NRL Assam, and a 280 kW plant at NRL West Bengal.The supply order covers ex-manufacturing works and the dispatch price for plant and equipment for the 140 kW, 760 kW, and 280 kW rooftop s..