National Asset Reconstruction Company Limited announced that it expects to receive INR 1.375 billion in funding from IDBI Bank Limited, ICICI Bank Limited, Axis Bank Limited, HDFC Bank Limited, Bank of India Limited

National Asset Reconstruction Company Limited announced that it has entered into an agreement to raise INR 1,375,000,000 in an equity round of funding on March 10, 2022. The transaction will include participation from IDBI Bank Limited, ICICI Bank Limited for 5% stake in the company. The equity investment will be made in tranches with the first tranche of INR 704,500,000 expected to close by March 31, 2022.