NEW DELHI: SBI has invited bids from asset reconstruction companies and other financial institutions to sell non-performing asset (NPA) KSK Mahanadi Power, which has over Rs 4,100 crore dues.
The country’s largest lender has set a reserve price of Rs 1,423 crore for selling the NPA account.
SBI said interested parties can conduct their due diligence of this asset with immediate effect after submitting an expression of interest by December 6.
A former subsidiary of KSK Energy Ventures, KSK Mahanadi had ceased to be its arm from May 2018 following invocation of pledged shares by a consortium of lenders upon default of loan repayment by the power company.
