NBCC sweetens bid for Jaypee Infratech, offers lenders land parcels worth Rs 5k crore
New Delhi: State-owned NBCC has sweetened its bid to acquire debt-ridden Jaypee InfratechNSE -4.00 % and has now offered to give lenders Rs 5,000 crore worth land parcels, sources said.
The public sector enterprise, which is also completing some projects of Amrapali Group on the Supreme Court’s direction, had offered lenders land worth Rs 3,000 crore in its earlier resolution plan submitted a couple of months back. It had also offered the Yamuna Expressway that connects Noida to Agra in Uttar Pradesh.
NBCC and Suraksha Realty group-led consortium, which are in the race to acquire Jaypee Infratech, were asked by the lenders to sweeten their offers. Both the potential buyers have submitted their revised offers under the Insolvency and Bankruptcy Code (IBC).
