Stocks

Jai Balaji may stay in limelight on IOB auction

| Updated on October 29, 2019 Published on October 29, 2019

 

Shares of Jai Balaji Industries may remain in focus, as Indian Overseas Bank has invited bids to sell its assets to recover the dues. The Kolkata-based Jai Balaji Industries, which is into steel business, has an outstanding of ₹187.10 crore to the Bank. IOB said this is the first lot of NPA accounts to be sold during the ongoing quarter of the current fiscal. The auction will be held under the Swiss Challenge method on a cash-plus-security receipt basis. The process of e-bidding is scheduled for November 18.

Published on October 29, 2019
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