Ambit Flowers Asset Reconstruction Co. Private Limited, Asset Reconstruction Company (India) Limited, and Edelweiss Asset Reconstruction Company Limited are among the eight investors bidding for INR 420 billion of bad loans offered by Yes Bank Limited (NSEI:YESBANK), involving both corporate and retail segments, sources told ET. Other ARCs participating include Omkara Assets Reconstruction Private Limited and Assets Care & Reconstruction Enterprise Ltd. The corporate portfolio includes eight accounts that turned non-performing after 2019.

These include Prometheon Enterprises with a debt of INR 149.6 billion, Malvern Travels, UK, with a debt of INR 53.7 billion, and Katerra India with INR 52.1 billion. Yes Bank's soured corporate loan pool is INR 309.1 billion, while the retail portfolio amounts to INR 114.2 billion. Yes Bank sought only cash bids.

Interested investors had until January 6 to submit the bids. Spokespersons of Yes Bank, ACRE ARC, Edelweiss ARC, JC Flowers ARC, Omkara ARC and ARCIL ARC did not respond to requests for comment. The sale also includes a retail portfolio of INR 114.2 billion.

This includes personal loans, vehicle loans and credit card loans. Most of these loans have turned NPAs in or after 2019.