Deal Alert: Stresed assets e-auctioneer NPASource.com raises funds from SIDBI

Ahmedabad-based Atishya Technologies Pvt Ltd, which runs NPASource.com, a portal focusing on resolution of stressed assets has received funding from the Small Industries Development Bank of India (SIDBI).

The portal aims to undertake over Rs 600 crore worth of e-auctions of various banks’ non-performing assets in 2013-14. The portal is already empanelled with 9 banks for conducting e-auctions of their NPAs: Dena Bank, IDBI Bank, SIDBI, Bank of Baroda, Indian Overseas Bank, Indian Bank, State Bank of Hyderabad, Bank of Maharashtra as well as Kotak Mahindra Bank.

Source: Business Line

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