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Lakshadeep Private Ltd emerges front-runner for Jaypee Infratech with Rs 7,350-crore bid

Dark horse Lakshadeep Pvt Ltd has emerged as the front-runner to acquire Jaypee Infratech with a bid of around Rs 7,350 crore, but way lower than what the real estate developer had proposed to lenders a year back to pay off debt. Lakshadeep Pvt Ltd, a joint venture between Sudhir Valia-led Suraksha Asset Reconstruction Company and Mumbai-based Dosti Reality, has offered Rs 1,200 crore in cash to the banks, Rs 4,000 crore of land parcel and the rest in form of long-term non-convertible debentures in the insolvency auction, sources privy to the development said. A small equity stake to lenders is also part of the offer.

News Source:- https://economictimes.indiatimes.com/industry/services/property-/-cstruction/lakshadeep-private-ltd-emerges-front-runner-for-jaypee-infratech-with-rs-7350-crore-bid/articleshow/63770108.cms