Gujarat-based NBFC tops NARCL bid for consolidated construction
AVIATION & AIRPORTS

Gujarat-based NBFC tops NARCL bid for consolidated construction

Gujarat-based NBFC Raj Radhe Finance has offered Rs 1.3 billion to take over the debt of EPC company Consolidated Construction Consortium (CCC) topping National Asset Reconstruction Company’s (NARCL) Rs 1 billion offer.

The offer was in response to a Swiss challenge called by banks after the anchor bid by NARCL last month. This is the third offer received by banks in response to NARCL bids. It remains to be seen whether the government-backed bad loan aggregator uses its option to match or beat its challenger.

Even the enhanced offer from Raj Radhe amounts to a 5% recovery for lenders on total outstanding dues of Rs 26.23 billion. It is even lower than the promoter’s offer for settlement at Rs 1.95 billion, which had envisaged a 7.5% recovery for banks. It’s an EPC company that does not have any real assets, but there could be future claims and awards which could yield some returns.

Also Read
Godrej Properties set to buy 50-acre parcel at Palghar
Singapore’s GIC, India’s ESR Group set up $600 mn JV

Gujarat-based NBFC Raj Radhe Finance has offered Rs 1.3 billion to take over the debt of EPC company Consolidated Construction Consortium (CCC) topping National Asset Reconstruction Company’s (NARCL) Rs 1 billion offer. The offer was in response to a Swiss challenge called by banks after the anchor bid by NARCL last month. This is the third offer received by banks in response to NARCL bids. It remains to be seen whether the government-backed bad loan aggregator uses its option to match or beat its challenger. Even the enhanced offer from Raj Radhe amounts to a 5% recovery for lenders on total outstanding dues of Rs 26.23 billion. It is even lower than the promoter’s offer for settlement at Rs 1.95 billion, which had envisaged a 7.5% recovery for banks. It’s an EPC company that does not have any real assets, but there could be future claims and awards which could yield some returns. Also Read Godrej Properties set to buy 50-acre parcel at Palghar Singapore’s GIC, India’s ESR Group set up $600 mn JV

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?