Ambit Flowers Asset Reconstruction Co. Private Limited (JC Flower ARC) has submitted a base bid for Indrajit Power Private Limited for INR 3,536 million of loans, while Prudent Arc Limited has submitted a base bid for Katerra India Private Limited for a loan of INR 5,210 million. These loans have been put up for sale by Yes Bank Limited (NSEI:YESBANK).

In the initial bidding process, Prudent ARC made an offer of INR 1,656 million for Katerra India, while JC Flower ARC proposed INR 1,330 million for Indrajit Power. Interested bidders will have to submit offers at 7% mark-up to the base bid. Yes Bank has set the deadline for interested bidders to submit their offers by 7 February and plans to announce the highest bidder on 13 February.

Spokespersons of Yes Bank, JC Flower ARC, and Prudent ARC did not immediately respond to requests for comment. The bank is looking to sell NPAs worth INR 42,000 million spread across eight accounts, including these two and a INR 11,420 million retail loan portfolio, on an all-cash basis.