SBI, other banks seek bids to sell stressed loans of Soma Enterprise

On behalf of a consortium of lenders, State Bank of India has sought bids from asset reconstruction companies, banks, nonbanking finance companies and other financial institutions to sell stressed loans of Soma Enterprise Ltd. As on Mar 2020, the consortium's fund-based debt exposure stood at 20.99 bln rupees, and investment in Soma Enterprise was at 13.45 bln rupees. The assets are being offered on a 100% cash basis. The reserve price for the assets is 8.10 bln rupees.

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