Taking forward its task of recovering dues from Sahara, markets regulator Sebi will sell a total of 16 land parcels of the beleaguered group, through e-auction next month, at a reserve price of about Rs1,900 crore.
The auction would be conducted by SBI Capital Markets and HDFC Realty, which have been tasked to auction a total of 61 land parcels, on July 13 and July 15 respectively. Besides, the two are already scheduled to e-auction five properties each on July 7 and July 4 respectively at a reserve price of nearly Rs1,200 crore.
At the reserve price, these auctions will take the total fund raising to at least Rs3,100 crore. The Securities and Exchange Board of India (Sebi) roped in HDFC Realty and SBI Cap after being asked by the Supreme Court to initiate the process of selling Sahara properties whose titles have been deposited with it by the group.