Jaypee Infratech acquisition: NBCC, Suraksha to submit revised bids
Real Estate

Jaypee Infratech acquisition: NBCC, Suraksha to submit revised bids

State-owned National Buildings Construction Corporation Ltd (NBCC) and security firm Suraksha Group, which are in the race to acquire debt-ridden Jaypee Infratech Ltd (JIL), will submit their revised bids.

As per sources, a meeting of the Committee of Creditors (CoC) may be held on May 19 to discuss the bids submitted by both parties under the Corporate Insolvency Resolution Process (CIRP).

In the last meeting of the CoC held on Saturday, financial creditors, which included representatives of homebuyers and lender, discussed their bids and sought several clarifications.

During the meeting, both Suraksha Group and NBCC and were asked to make necessary changes and submit their revised bids. In the fourth round of the bidding process, NBCC is offering up to 1,903 acres, while Surakasha Group has proposed to give 2,651 acres to lenders.

Suraksha group has designated 1,486 acres to dissenting lenders out of the total land parcels offered in the proposal. NBCC has offered an additional 377-acre land in case dissenting financial creditors are not satisfied with its original offer of 1,526 acres, taking its total offer to up to 1,903 acres.

While Suraksha Group will keep Yamuna Expressway, which connects Agra to Noida, with itself, NBCC will transfer over 80% of its stake in the road projects to financial institutions and banks.

Suraksha group has offered to complete around 20,000 pending housing units in 42 months. The company proposed a line of credit of Rs 3,000 crore as working capital for project constructions.

Suraksha group has also given an undertaking that the company will meet any shortfall to the dissenting creditors through the disbursal of more funds or assets.

Image Source


Also read: Bentley systems acquires Chennai-based Nadhi Information Technologies

Also read: Dubai’s Mark AB Capital to acquire 26% stake of Shriram EPC

State-owned National Buildings Construction Corporation Ltd (NBCC) and security firm Suraksha Group, which are in the race to acquire debt-ridden Jaypee Infratech Ltd (JIL), will submit their revised bids. As per sources, a meeting of the Committee of Creditors (CoC) may be held on May 19 to discuss the bids submitted by both parties under the Corporate Insolvency Resolution Process (CIRP). In the last meeting of the CoC held on Saturday, financial creditors, which included representatives of homebuyers and lender, discussed their bids and sought several clarifications. During the meeting, both Suraksha Group and NBCC and were asked to make necessary changes and submit their revised bids. In the fourth round of the bidding process, NBCC is offering up to 1,903 acres, while Surakasha Group has proposed to give 2,651 acres to lenders. Suraksha group has designated 1,486 acres to dissenting lenders out of the total land parcels offered in the proposal. NBCC has offered an additional 377-acre land in case dissenting financial creditors are not satisfied with its original offer of 1,526 acres, taking its total offer to up to 1,903 acres. While Suraksha Group will keep Yamuna Expressway, which connects Agra to Noida, with itself, NBCC will transfer over 80% of its stake in the road projects to financial institutions and banks. Suraksha group has offered to complete around 20,000 pending housing units in 42 months. The company proposed a line of credit of Rs 3,000 crore as working capital for project constructions. Suraksha group has also given an undertaking that the company will meet any shortfall to the dissenting creditors through the disbursal of more funds or assets. Image SourceAlso read: Bentley systems acquires Chennai-based Nadhi Information Technologies Also read: Dubai’s Mark AB Capital to acquire 26% stake of Shriram EPC

Next Story
Technology

Atlas Copco Unveils Innovation Centre in Pune for Smart Manufacturing

Atlas Copco Tools has inaugurated its first Smart Factory Innovation Centre in India, a cutting-edge facility in Pune designed to showcase advanced technologies powering Smart Integrated Assembly ecosystems. The centre will serve as a hub for businesses across automotive, aerospace, electronics, heavy machinery, and manufacturing sectors to explore automation and smart manufacturing solutions for zero-defect production.The Innovation Centre offers hands-on demonstrations of the latest torquing and dispensing technologies, highlighting software-driven solutions that optimize efficiency, enhance..

Next Story
Resources

Elite Elevators Unveils India’s First Fully Customizable Home Elevator

Elite Elevators, a leader in the premium home lift segment, has launched Elite Elevators Bespoke—India’s first fully customizable luxury home elevator. The launch event, held at the company’s Chennai headquarters, showcased how the new offering redefines residential mobility by integrating state-of-the-art technology with personalized design.Speaking on the launch, Vimal Babu, Founder and CEO, Elite Elevators, said, “At Elite Elevators, our mission has always been to revolutionize home mobility with world-class innovations. Through its enhanced customizable features, our Bespoke elevat..

Next Story
Real Estate

Under-Construction Homes Now Costlier Than Ready-to-Move Properties

Under-construction (UC) homes are now more expensive than ready-to-move (RTM) properties across major Indian metros, according to the latest insights from Magicbricks.In Delhi, UC homes are priced at Rs 25,921 per sq. ft., surpassing RTM properties at Rs 18,698 per sq. ft. Similarly, in Gurugram, UC homes cost Rs 17,185 per sq. ft., compared to Rs 14,617 per sq. ft. for RTM properties.Mumbai, India’s costliest real estate market, has also seen a sharp rise, with UC home prices soaring 33.4 per cent Y-o-Y in Q1 2025 to Rs 32,371 per sq. ft., while RTM properties stand at Rs 28,935 per sq. ft...

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?