VERIFIEDET Stocks·17 Jun 2026neutral

Prudent ARC top bidder for Aban Offshore debt

AI Summary

·Prudent ARC emerged as the highest bidder for Aban Offshore's ₹1,080 crore debt from Punjab National Bank, offering ₹193 crore.
·This is the first instance of Aban Offshore's debt being sold by a bank.
·The sale allows PNB to achieve an excess recovery compared to the promoters' settlement offer and avoid legal recovery processes.