ARCIL sells security receipts to Deutsche Bank

Chennai, Feb 13 (UNI) Asset Reconstruction Company (India) Limited (ARCIL) has sold Security Receipts (SRs), comprising NPL portfolio of Rs 3,925 crore, to Deutsche Bank.

According to a company release here today, this was the largest significant secondary market transaction of SRs in India.

The sell-down transaction was initiated and concluded by ARCIL.

ARCIL is the first Asset Reconstruction Company (ARC) to commence business in India.

Banking majors like State Bank of India, ICICI Bank, Industrial Development Bank of India Ltd and Punjab National Bank sponsored ARCIL.

As on date, assets managed by ARCIL exceed US Dollar 8.58 billion, the release added.

UNI SNR AJ 1100