Hi
Only 15% is cash while 85% is in securities which shall be paid as securities so best they can do is put 15% as realized gain and 85% as deferred assets/investments which shall be realized basis JM financial recovery.
Bigger point however remains is why there was just one bidder, also they did not get price which was 10% higher the reserve price that they had proposed for minimum. There can be multiple reasons for that, few can be as below
- Assets may not be attractive
- Others may not have setup to do a recovery from retail assets
- Companies estimating a lower recovery
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