Proceedings were earlier initiated against Essar Steel and Monnet Ispat and Energy.
Aion and Everstone are also reportedly interested in the pvt sector lender.
It has so far bought bad loans from small and medium enterprises
The size of the deal is likely to be Rs350-400 crore.
IPOs & Markets
This will help the bank improve its capital adequacy position
The bank is set to be launched before the end of this month.
Shapoorji Pallonji, another contender, has decided to back out of the talks.
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