Indian firms announce stressed asset sales of $6b in 2016, higher than in previous years

Indian firms have announced more than Rs.1 trillion of stressed asset sales since 2013 as debt-laden corporate entities seek to deleverage their balance sheets, says a report by Kotak Institutional Equities Research. This includes sales that have been completed as well as transactions that have been announced but are awaiting closure. In just five months of calendar year 2016, almost Rs.41,000 crore of stressed asset sales have been announced—higher than in any of the previous three years, the data shows.