Mumbai, May 24: The State Bank of India (SBI) has put up assets of over Rs 1,471 crore for sale to asset reconstruction companies (ARCs). The largest among them is Adhunik Power and Natural Resources where the lender is looking to sell debt worth Rs 807 crore and equity of nearly Rs 200 crore.

The reserve price for Adhunik Power has been set at over Rs 723 crore.

The country's largest bank announced the sale of these financial assets through a tender on its website.

Those interested in acquiring these assets will have to submit expressions of interest (EoI) by Friday. The e-bidding will take place on June 9.

Other lenders, which include the Industrial Finance Corporation, Allahabad Bank, Oriental Bank of Commerce, Indian Overseas Bank, Dena Bank, Uco Bank, Punjab & Sind Bank, Andhra Bank, Syndicate Bank and India Infrastructure Finance Company, have also given their in-principle approval to sell the assets to the ARCs, the SBI said.

The combined debt exposure of these lenders stand at Rs 1,457.27 crore.

Some of the other assets that the SBI has put up for sale include Shelter Infra Projects Pvt Ltd, Shiva Texfabs Ltd, Surya World Education Research & Charitable Initiative, Rita Plastics Pvt Ltd and Teracom Ltd.

PSU banks are faced with bad loans of over Rs 6 lakh crore and authorities, including the RBI, have been taking various measures to bring down the level of non-performing assets (NPAs).

Apart from restructuring accounts under schemes such as S4A and SDR, banks have been asking borrowers with huge loans to sell their assets.

During the year ended March 31, 2017, the share of the SBI in the sale of core and non-core assets stood at Rs 4,778 crore. Recoveries through debt or asset restructuring companies over the last two years were Rs 5,610 crore.