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What to watch: NBCC sweetens bid for Jaypee Infratech?

| Updated on April 25, 2019 Published on April 26, 2019

Jaypee Infratech Limited, a subsidiary of Jaypee Group’s flagship firm Jaiprakash Associates, is developing about 32,000 flats, of which it has delivered 9,500 units.   -  REUTERS

Shares of Jaypee Infratech and NBCC (India) may remain in focus, as according to a PTI report, the latter has sweetened its bid to to acquire the former. According to the report, NBCC has now offered to give lenders ₹5,000 crore worth land parcels compared to the earlier proposal of ₹3,000 crore. Jaypee Infratech has 6,000 acres of land parcels, out of which around 3,500 acres is unutilised. The NBCC and Suraksha Realty group-led consortium were asked by the lenders to sweeten the deal.

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Published on April 26, 2019
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