The sale was structured as a cash-security receipt (SR) transaction, with 13% of the consideration paid in money and the remaining 87% within the type of safety receipts.
Spokespersons of each Piramal and JM Monetary ARC didn’t reply to a request for remark.
That is the second mortgage that the corporate is trying to promote in lower than 10 days. It had additionally bought a complete mortgage excellent pool of ₹3,656 crore to Omkara ARC for ₹625 crore final week. The sale resulted in a restoration of 17percents for Piramal. The principal excellent of the pool was ₹3,656 crore as of Might 15, 2023 and unfold throughout 7-8 accounts.
These exposures embrace inherited soured advances from the DHFL acquisition. The mortgage lender was bought in a chapter.