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  Business   Companies  18 Dec 2019  Jaypee Infra jumps over 9 pc on CoC nod for NBCC bid

Jaypee Infra jumps over 9 pc on CoC nod for NBCC bid

PTI
Published : Dec 18, 2019, 12:45 pm IST
Updated : Dec 18, 2019, 12:45 pm IST

Shares of Jaypee Infratech were trading 9.26 per cent higher at Rs 1.77 apiece on the BSE.

Jaypee Infratech's financial creditors, including lenders and homebuyers, approved the bid of state-owned NBCC to acquire the debt-laden realty firm Jaypee Infratech under insolvency process, according to sources.
 Jaypee Infratech's financial creditors, including lenders and homebuyers, approved the bid of state-owned NBCC to acquire the debt-laden realty firm Jaypee Infratech under insolvency process, according to sources.

New Delhi: Shares of Jaypee Infratech on Wednesday zoomed over 9 per cent after its Committee of Creditors (CoC) approved NBCC's bid to acquire the company under insolvency process.

Shares of Jaypee Infratech were trading 9.26 per cent higher at Rs 1.77 apiece on the BSE.

 

On the NSE, the stock rallied 6.06 per cent to Rs 1.75.

Shares of NBCC (India) also rose 0.85 per cent to Rs 35.55 on the BSE and NSE.

Jaypee Infratech's financial creditors, including lenders and homebuyers, approved the bid of state-owned NBCC to acquire the debt-laden realty firm under insolvency process, according to sources.

Jaypee Infratech, a subsidiary of crisis-hit Jaiprakash Associates, went into insolvency process in August 2017 after the National Company Law Tribunal (NCLT) admitted an application by an IDBI Bank-led consortium.

Tags: jaypee infratech, nbcc, bse, nse, jaiprakash associates, national company law tribunal, idbi bank, jaypee infra
Location: India, Delhi, New Delhi