NBCC jumps on submitting revised bid to acquire Jaypee Infratech

NBCC (India) is currently trading at Rs. 38.55, up by 1.15 points or 3.07% from its previous closing of Rs. 37.40 on the BSE

The scrip opened at Rs. 38.45 and has touched a high and low of Rs. 39.00 and Rs. 38.00 respectively. So far 314726 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 68.35 on 19-Mar-2019 and a 52 week low of Rs. 28.55 on 23-Aug-2019.

Last one week high and low of the scrip stood at Rs. 41.30 and Rs. 36.40respectively. The current market cap of the company is Rs. 6732.00 crore.

The promoters holding in the company stood at 65.93%, while Institutions and Non-Institutions held 18.50% and 15.5 % respectively.

NBCC (India) has submitted its revised bid to acquire bankruptcy-bound Jaypee Infratech, by offering lenders 1,426-acre land instead of 950 acres earlier and also providing half of 3,000 benami flats to them.

The company has offered 75 percent of 858-acre land which is expected to be transferred back to Jaypee Infratech from the parent company Jaiprakash Associates.

NBCC will infuse Rs 120 crore as equity capital and transfer the Yamuna Expressway that connects Noida and Agra to bankers along with concessional right, adding that flats to over 20,000 distressed home buyers will be delivered over the next four years.

NBCC (India) is one of the few public sector companies engaged in the business of project management consultancy services for civil construction projects (PMC), civil infrastructure for power sector and real estate development.

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