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Adani offers lenders Rs 500 cr upfront in fresh bid for Jaypee Infratech

CoC will take a call on May 30. Adani has also offered 1,000 acres to lenders and Rs 1,700 cr to build houses for home owners. Of the Rs 500 cr, lenders would get Rs 23 cr as cash payment

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Dev Chatterjee Mumbai
The Adani group has again entered the race for debt-ridden Jaypee Infratech by making a non-binding offer of Rs 500 crore as upfront payment to lenders, employees and operational creditors.

The committee of creditors (CoC), scheduled to meet on May 30 to consider NBCC (India)’s offer, will also consider the Adani group’s fresh offer.

The Adani group has additionally offered 1,000 acres to lenders and Rs 1,700 crore to construct houses for home owners. Of the Rs 500 crore, lenders will receive Rs 23 crore, while the rest of the money will go to the employees and operational creditors. The Adani offer,

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First Published: May 28 2019 | 9:04 PM IST

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