Deadline extended for Punj Lloyd bids
MUMBAI: The deadline for submission of binding bids for stressed engineering company Punj LloydNSE 4.55 % has been extended by 10 days to August 24 because no offers were made, said a person with knowledge of the matter. Punj Lloyd owes banks Rs 12,689 crore.
As many as 10 entities including Sterlite Power, Welspun Enterprises, International Asset Reconstruction Co (IARC), Rare ARC, Eight Capital and a Singapore-based engineering company are understood to have submitted expressions of interest (EoIs). Bidders were required to submit binding offers by August 14. That deadline has been extended, according to the company’s website. Ashwini Mehra of Duff & Phelps is the resolution professional.
