Kotak Mahindra Group backed Phoenix ARC puts Rs 3,550 cr loans on sale

Phoenix ARC, supported by Kotak Mahindra Group, has sought buyers for over Rs 3,550 crore in non-performing assets, split between secured and unsecured loans. Expressions of interest were due by August 26, followed by a Swiss auction on October 21. BOB Capital Markets is advising Phoenix on the deal.