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.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on April 26, 2019
This article is closed for comments.
Please Email the Editor