Prudent ARC top bidder for Aban Offshore debt (opens original article in a new tab)

Prudent ARC became the top bidder for Aban Offshore's ₹1,080 crore debt from Punjab National Bank, securing a 21% recovery for the bank.

• Prudent ARC emerged as the highest bidder for Aban Offshore's ₹1,080 crore debt from Punjab National Bank.
• Prudent's bid of ₹193 crore exceeded a previous ₹155 crore offer from Aban promoters and a ₹222 crore bid from another ARC.
• PNB achieved a 21% recovery on its debt and avoided a lengthy legal process through this sale.