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Home Debt Purchasing India Arcil to float risk capital fund to infuse equity in NPA cases

Arcil to float risk capital fund to infuse equity in NPA cases

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While bad loans pile up on the books of banks, getting equity assistance for revival and turnaround of units is becoming more difficult. As a step to give timely capital support to viable companies that are non-performing assets, asset reconstruction company Arcil plans to float a risk capital fund.

Besides professional guidance, equity assistance to promoters (of these units in the Arcil portfolio) can help turn around and improve recoveries, according to P Rudran, the 2002-founded company’s new chief executive and managing director.

Arcil has begun talks with financial investors for floating funds. The corpus could be Rs 100 crore, he said, but declined to name the prospective investor. Based on experience with the proposed funds, Arcil could decide later on the corpus size in the future.
Arcil is promoted by banks and financial institutions. Its key stakeholders include State Bank of India (19.95 per cent), IDBI Bank (19.18 per cent), ICICI Bank (13.26 per cent) and Punjab National bank (10.01 per cent).

 

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