Phoenix ARC Private Limited (“Phoenix”) is sponsored by the Kotak Mahindra Group, a leading diversified financial services group, to undertake the business of asset reconstruction. Kotak Mahindra Group owns 49.90 % of the Equity Capital of the Phoenix and the balance is held by a diverse group of investors.
Over the last 35 years, the Kotak Mahindra Group has successfully nurtured several businesses such as Banking (consumer, commercial, corporate), Credit and Financing, Equity Broking, Wealth and Asset Management, Insurance (general and life), Asset Reconstruction and Investment Banking.
With a view to offer a wider array of products and services to the Banks / Financial Institutions, the Kotak Mahindra Group has sponsored Phoenix to play a significant role in the Asset Reconstruction business.
Pursuant to Section 3 of The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002, Phoenix obtained its registration as an Asset Reconstruction Company (ARC) from Reserve Bank of India in June 2008. Since inception, Phoenix has played a vital role in stressed assets market and continues to be one of the leading ARC having acquired Non-Performing Assets (NPA) comprising of large corporate, SME & retail pools from various banks and financial institutions in excess of Rs. 21,500 crores with the total outstanding dues of more than Rs. 80,000 crores.
Phoenix’s track record in resolving NPAs has been widely acknowledged in the asset reconstruction industry and stressed assets market. Phoenix has a dedicated team of professionals to optimize resolution results by unlocking the hidden value of NPAs.
As of March 2023, Phoenix has AUM of Rs. 11,974 crores. CRISIL Limited, a leading rating agency in India has assigned CRISIL AA / stable rating to Phoenix which signifies high credit quality and is the highest in asset reconstruction industry in the country.