Brookfield and Everstone-backed IndoStar sells bad loans under a senior-junior structure under a Swiss auction. The senior class comprises 38-40% of the principal amount which Encore will pay as upfront cash. The junior class which is 60-62% of principal loan, is split into cash and security receipts. Of the junior class, IndoStar would receive cash and subscribe to the security receipts.
The corporate portfolio includes eight accounts that turned non-performing after 2019. These include Prometheon Enterprises with a debt of ₹1,496 crore, Malvern Travels, UK, with a debt of ₹537 crore, and Katerra India with ₹521 crore.
“As long as I am physically fit, staying mentally fit is not a challenge for me. I find it much easier and more importantly have the physical stamina to prioritise the activities that are necessary for my mental wellbeing.”