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Fresh bid boosts NBCC confidence to bag beleaguered Jaypee Infratech

State-run infrastructure firm says will deliver the houses to buyers in 3 years if it wins the bid

Fresh bid boosts NBCC confidence to bag beleaguered Jaypee Infratech
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NBCC offers to pay Rs 500 crore upfront to lenders and invest ~2,000-2,500 crore as funding gap to complete delayed housing projects in Noida

Karan Choudhury Bengaluru
State-owned NBCC hopes its revised bid might help it bag beleaguered developer Jaypee Infratech. After the CoC (committee of creditors) meeting on Friday, sources at NBCC said the response to the bid had been positive.

The state-run infrastructure firm offered to give lenders land parcels worth Rs 5,000 crore. “We believe the response has been positive so far. However things would be clear after the next meeting,” said a top NBCC official.

The next CoC meeting is likely to be held on April 30. From monetising assets in stalled projects to giving keys of flats to around 32,000 buyers in three years,

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First Published: Apr 27 2019 | 1:42 AM IST

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