L&T Finance is seeking buyers for a distressed real estate portfolio comprising loans given to Pune-based Xrbia Group, said two people aware of the development.
The company has invited offers for a loan book of ₹880 crore given to five Xrbia Group companies, the people said.
The five accounts comprise Xrbia Developers with a debt of ₹435 crore, Xrbia Chakan Developers with ₹164 crore, Xrbia Warai Developers with ₹156 crore, Xrbia Ambience Realty LLP with ₹107 crore and Eiffel Lifespaces with ₹18 crore debt. L&T Finance has invited offers under the 15:85 structure, which involves 15% of the consideration as cash and the remaining 85% as security receipts (SR) payable on recovery of the loans from the borrower.
Source:
Economic Times
