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Last Updated : Apr 25, 2019 06:49 PM IST | Source: Moneycontrol.com

Jaypee Infra falls 5% after NBCC revises bid

At 1219 hrs, Jaypee Infratech was quoting Rs 2.56, down 4.83 percent on the BSE.

Moneycontrol News @moneycontrolcom

Shares of Jaypee Infratech plummeted nearly 5 percent intraday on April 25 after reports emerged that NBCC India has submitted a revised bid to acquire the realty arm of Jaypee Group.

According to reports, state-owned NBCC was asked to sweeten their offers, while their prime competition Suraksha group, had earlier submitted a revised bid

Details of the revised offers by NBCC and Suraksha were not immediately available.

Adani Group has also reportedly expressed interest in Jaypee Infra. However, lenders are unlikely to seek Adani's offer until this round of insolvency proceedings gets completed, said a PTI report.

At 1219 hrs, Jaypee Infratech was quoting Rs 2.56, down 4.83 percent on the BSE.

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First Published on Apr 25, 2019 12:28 pm
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