IndusInd Bank to sell off retail loan pool worth ₹1,573 Crore

27 Dec 2024 , 09:09 AM

IndusInd Bank has sold its Microfinance Institution (MFI) retail loan pool, valued at ₹1,573 Crore and including 10,61,440 accounts. The bank is offering the full pool in cash, with the goal of optimizing its balance sheet and increasing liquidity.

Indusind Bank Ltd (IBL) invites offers from all eligible purchasers for sale on “100% Cash Basis” under public auction on “As is where is”, “As is what is”, and “Whatever there is” basis, in accordance with the RBI guidelines on Stressed Loan Transfer dated September 24, 2021. The transaction is being done through a public auction process. Bids from prospective bidders must exceed the Reserve Price listed below (position as of November 30th, 2024),” the lender stated in an exchange statement.

Bidders must submit bids that exceed the reserve price of ₹85 Crore. An earnest money deposit (EMD) of 5% of the reserve price is required along with the expression of interest (EOI), which can be made by demand draft (DD), RTGS, or NEFT.

The sale is part of the lender’s ongoing efforts to streamline its balance sheet and manage its stressed asset portfolio. Further details and the full process for submitting bids are available in the official notice.

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