The National Asset Reconstruction Company (NARCL), a government-backed bad loan bank, is selling the debt of Wind World India. The debt, which was acquired for Rs 3,763 crore approximately 18 months ago, has a reserve bid set at Rs 1,250 crore.
Omkara ARC has emerged as the anchor bidder, matching the reserve bid of around $1,250 crore. This development brings the process to the first round of the Swiss Challenge auction, a method where a first bidder sets the price floor, and other interested parties are then given a chance to beat that bid.
The process is being overseen by IDBI Capital Markets, which is acting as the process advisor. The original committee of creditors, which includes major banks like IDBI Bank, State…