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

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Expands to Global Markets

Vedanta Aluminium has expanded its digital e-commerce platform, Vedanta Metal Bazaar, to international markets, enabling overseas customers to order and purchase aluminium products online.The platform will now be available to buyers across Asia, Europe, Africa and the Americas, providing a digital gateway for export transactions with 24x7 access.In FY26, Vedanta Metal Bazaar processed transactions worth nearly $4.1 billion, or over Rs 380 billion, and fulfilled more than 23,000 orders. The platform is also used regularly by more than 550 MSMEs in India alongside large OEM customers.The export ..

Next Story
Infrastructure Urban

Ramky Infrastructure Q1 FY27 Revenue Rises 24.3%

Ramky Infrastructure Limited reported a 24.3% year-on-year increase in consolidated revenue from operations to Rs 471.2 crore for Q1 FY27, compared with Rs 3.79 billion in the corresponding quarter of FY26.Standalone revenue from operations rose 27.5% YoY to Rs 4.51 billion from Rs 3.54 billion, while total standalone income increased 35% to Rs 5.32 billion.Consolidated profit before tax stood at Rs 540.9 million during the quarter. The company highlighted a sharp sequential improvement compared with a pre-exceptional loss of Rs 190.1 million in Q4 FY26.Two of the three projects awarded during..

Next Story
Technology

LTTS Launches AgenticIQ AI Platform for Engineering

L&T Technology Services (LTTS) has launched AgenticIQ, an end-to-end agentic AI platform designed for engineering and manufacturing organisations.The platform is aimed at helping enterprises move beyond isolated AI pilots by enabling autonomous, multi-agent workflows across engineering, product development, manufacturing, industrial operations and customer experience.AgenticIQ is built on LTTS’ Engineering Intelligence portfolio and converts existing engineering capabilities into specialised, reusable AI agents. Its planning-first architecture is embedded into engineering and production ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement