Kotak Realty-Cube Highways offer Rs 6,000 crore to build 25,000 Jaypee flats

Kotak Realty-Cube Highways offer Rs 6,000 crore to build 25,000 Jaypee flats
26/02/2018 , by , in News/Views

Kotak Realty Fund and Cube Highways, which have bid for Jaypee Infratech, have proposed to set aside Rs 6,000 crore for constructing 25,000 undelivered homes, while offering to pay all lenders and promising that banks will not have to take a ‘haircut’ on their exposure.

According to media sources, at least half a dozen bidders, including the Adani Group, JSW, Deutsche Bank, Sudhi Walia-promoted Suraksha Asset Reconstruction Corporation and Chinese realtor Jieyang Zhonguci, apart from the Kotak Realty-Cube Highways combine, are in the fray for the company facing insolvency action.

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