hdfc: HDFC to hold auction of two hotels after Prudent ARC makes binding offer

Prudent ARC's binding offer of ₹311 crore has triggered a Swiss challenge auction for the hotel properties with total loans of ₹507 crore. Prudent's offer equates to a recovery of 61% for the housing finance company. HDFC has invited counteroffers from other asset reconstruction companies (ARCs) by June 26, a notice issued by the housing finance company stated.

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