Arcil IPO: Avenue, SBI to reduce stake, GIC affiliate to exit
New York based Avenue Capital Group, State Bank of India (SBI), Singapore’s GIC owned Lathe Investment and Federal Bank will sell an aggregate of 10.54 crore shares in Arcil Ltd in what will be the first initial public offer (IPO) for a bad loan aggregator in India. The company filed its Draft Red Herring Prospectus…
