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

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code