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NBCC gets govt backing for revised offer for Jaypee Infra
short by Shruti Maria Mahendar / on Thursday, 2 May, 2019
State-owned NBCC on Wednesday said it has received government approval for its revised offer to acquire cash-strapped Jaypee Infratech. This comes within a week after its bid was rejected by lenders as it was subject to approval of government authorities. NBCC has offered ₹5,000 crore worth land and 100% equity of Yamuna Expressway, the only cash-generating asset with Jaypee Infratech.
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