Edelweiss Financial shares reel despite clarification on investment in Kohinoor Group
Updated : August 23, 2019 01:09 PM IST
The company clarified that public sector banks had extended loans to Kohinoor Square project in 2010 which subsequently turned NPA.
From 2015 onwards, Edelweiss ARC participated in public auctions and bought the loans and its exposure is about Rs 120 crore.
The stock fell as much as 12.8 percent to Rs 93 per share on BSE.
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