Varde-Arena emerges as highest bidder for Srei
ECONOMY & POLICY

Varde-Arena emerges as highest bidder for Srei

The Varde Partners-Arena consortium emerged as the highest bidder after submitting a revised bid with an additional cash component of Rs 36 billion for the two Srei group of companies under the insolvency and bankruptcy process.

It previously offered a marginally higher cash component, which was higher than National Asset Reconstruction Company Ltd (NARCL) and Authum, which were second and third on that count, respectively.

On December 5th, the bid for Srei Infrastructure Finance (SIFL) and Srei Equipment Finance (SEFL) expired.

In total, the Varde-Arena consortium has bid the most, totaling more than Rs 140 billion, including bonds, OCDs, equity, and upfront cash.

The Committee of Creditors (CoC) will vote on the revised bid submitted by the Varde Partners and Arena consortium at its meeting.

The government-backed NARCL had submitted the "highest net present value bid of Rs 55.55 billion".

Varde Arena has also sent a letter to the Srei Administrator, claiming that the ongoing CIRP process is 'unreasonable and unfair,' and that it has been forced to use a 'proprietary Challenge' method on short notice.

According to the letter, the challenge was completed in just one week, with no regard for prior requests for adequate time for evaluation, despite the fact that Christmas and New Year's holidays are celebrated in the United States.

Varde currently manages more than USD 13 billion in assets across North America, Europe, and Asia Pacific, with teams focused on corporate and traded credit, real estate, and financial services.

Arena Investors is a USD 3 billion AUM global institutional asset manager that provides creative solutions for those seeking capital in special situations.

According to the sources, the consortium has asked the Administrator to update the CoC with these issues in the best interests of all stakeholders. The valuation report of the twin Srei Group companies undergoing resolution will be considered by the Committee of Creditors (CoC) of Srei lenders. The CoC may reject Srei Infrastructure Finance and Srei Equipment Finance if their fair and liquidation value exceeds the resolution plans submitted by the three bidders.

See also:
RBI supersedes Srei Infrastructure and Srei Equipment Finance
NARCL emerges as the highest bidder for SREI


The Varde Partners-Arena consortium emerged as the highest bidder after submitting a revised bid with an additional cash component of Rs 36 billion for the two Srei group of companies under the insolvency and bankruptcy process. It previously offered a marginally higher cash component, which was higher than National Asset Reconstruction Company Ltd (NARCL) and Authum, which were second and third on that count, respectively. On December 5th, the bid for Srei Infrastructure Finance (SIFL) and Srei Equipment Finance (SEFL) expired. In total, the Varde-Arena consortium has bid the most, totaling more than Rs 140 billion, including bonds, OCDs, equity, and upfront cash. The Committee of Creditors (CoC) will vote on the revised bid submitted by the Varde Partners and Arena consortium at its meeting. The government-backed NARCL had submitted the highest net present value bid of Rs 55.55 billion. Varde Arena has also sent a letter to the Srei Administrator, claiming that the ongoing CIRP process is 'unreasonable and unfair,' and that it has been forced to use a 'proprietary Challenge' method on short notice. According to the letter, the challenge was completed in just one week, with no regard for prior requests for adequate time for evaluation, despite the fact that Christmas and New Year's holidays are celebrated in the United States. Varde currently manages more than USD 13 billion in assets across North America, Europe, and Asia Pacific, with teams focused on corporate and traded credit, real estate, and financial services. Arena Investors is a USD 3 billion AUM global institutional asset manager that provides creative solutions for those seeking capital in special situations. According to the sources, the consortium has asked the Administrator to update the CoC with these issues in the best interests of all stakeholders. The valuation report of the twin Srei Group companies undergoing resolution will be considered by the Committee of Creditors (CoC) of Srei lenders. The CoC may reject Srei Infrastructure Finance and Srei Equipment Finance if their fair and liquidation value exceeds the resolution plans submitted by the three bidders. See also: RBI supersedes Srei Infrastructure and Srei Equipment FinanceNARCL emerges as the highest bidder for SREI

Next Story
Real Estate

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..

Next Story
Equipment

Company showcases North America-certified machinery and secures new deals

Zoomlion Heavy Industry Science & Technology Co., recently showcased a wide portfolio of North America-certified and customised construction equipment at CONEXPO-CON/AGG 2026 in Las Vegas. The display included engineering hoisting machinery, concrete equipment, earthmoving machinery, mining equipment and construction hoisting solutions tailored to regional operational requirements.All equipment presented at the exhibition complies with North American certification standards, with several models specifically developed to meet local regulatory requirements and site conditions. One of the hig..

Next Story
Technology

Sinoboom Launches Dual-ETM Smart Technology

Sinoboom recently introduced its Dual-ETM Smart Technology at CONEXPO-CON/AGG 2026, designed to enhance battery endurance and operational efficiency in electric boom lifts.The new technology integrates advanced components that enable real-time optimisation of power usage during equipment operation. By calculating the precise power requirement instantly, the system delivers only the energy needed for each movement, reducing the inefficiencies associated with conventional maximum-demand power systems.The solution incorporates multiple sensors—including pressure, weight, length and level sensor..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement