NBCC looks pipped

about 4 months ago
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Mumbai based Suraksha Realty has pipped NBCC in the race to acquire Jaypee Infra.

Suraksha Realty, along with Lakshdeep Investments and Finance emerged the winning bidder to acquire Jaypee Infratech, bagging 98.66% of the votes of its Committee of Creditors. As against this, NBCC India, which had also submitted a bid, got a tad lower vote at   98.54%.

Suraksha has offered 2,552 acres to secured financial creditors with a fair value of Rs.6,456 crore; Rs.1,280 crore in instruments to secured financial creditors, and Rs.29 crore to FD holders.

NBCC offered 1,903-acre land to bankers and 90% stake in Yamuna Expressway, including 4,660 acres of expressway land and 137.85 acres of commercial land for development. It offered additional 100 acres for payment to homebuyers.

NBCC, which had hit a new high at Rs.59.80 on 22nd June, is today down in the red. From its close of Rs.57.05 of yesterday, it opened lower at Rs.56.45, with an intraday high and low at Rs.56.55 and Rs.54.90 respectively.

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