Canara Bank will be going ahead with commercial bids for their stake in Can Fin Homes today, PV Bharati, Executive Director of Canara Bank told CNBC-TV18.

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All non commercial bidders will place their commercial bid. Non commercial bidders from the listed entities are HDFC, RBL Bank, Bain Capital, Blackstone, Temasek and Bearing Capital. After receiving bids, top three bidders will be called tomorrow. While, announcement of top bidder will be made after a decision is taken in consultation with a sub-committee or board.

With this, the bank is looking to monetize its non-core investments, one of which is Ca Fin homes with 30.44% stake.

"Today is the big opening day and the procedure should be completed before 31st of march. We are very positive on valuation. We look forward to a good rate from the market", said Bharati.

Apart from Can Fin Homes, the bank has put Can Factors and Can Computer Service Ltd for bids, however, it is yet to decide a date on the same.

Talking about LoU ban, she said "We don't see much impact on bank due to ban on Letters of Undertaking."

On NPA resolution circular, she said that the bank was expecting accounts worth Rs 3,000 crore to be resolved.

First Published:Mar 14, 2018 5:13 AM IST