State Bank of India (NSEI:SBIN) (SBI) failed to attract investors at an auction held on Thursday to sell INR 17,030 million debt of Hindusthan National Glass & Industries Limited (BSE:515145) (HNGIL), the country's largest glass bottle maker, whose debt resolution has been delayed by more than a year due to the litigation between the two bidders in the fray. The bank had set a INR 8,210 million reserve price on the HNGIL debt, implying a 48% recovery on the total outstanding amount.
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- SBI Fails to Draw Buyers for Hindusthan National Glass' INR 17,030 Million Bad Debt