Garden Silk Mills invites EoI: Invent ARC Private Ltd declared successful bidder

Invent ARC Private Ltd has been declared a successful bidder to take over the debts of Garden Silk Mills. The lenders of Garden Silk Mills had invited expression of interest from bidders for sale of debt exposure of the company. The consortium of lenders led by Bank of Baroda had carried out an e-auction/bidding process through the designated agency — BDO India LLP. Following this, a letter of intent was issued on December 31, 2019, by BOB on behalf of lenders to the successful bidder Invent ARC Private Limited. Shares of Garden Silk Milks closed at ₹11.30, up 4.63 per cent, on the NSE.