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Adani Group To Bid For Jaypee Group’s Realty Assets

The resolution process involves a committee of creditors. This includes major financial institutions like Adani SBI, ICICI, and LIC. The committee will evaluate Adaniu2019s bid as a part of the ongoing insolvency proceedings and they will come up with their decision on whether the Adani Group should acquire control of Jaypee Groupu2019s assets.

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Adani Group To Bid For Jaypee Group’s Realty Assets

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  1. Adani Group To Bid For Jaypee Group’s Realty Assets

  2. The Adani Group has already planned to bid for Jaypee Group’s assets. If the bid is successful, then it can expand its real estate portfolio. The company’s plan is a part of the comprehensive resolution package for the Jaypee Group’s flagship entity, Jaiprakash Associates Limited. The company is currently entangled in the largest case of bankruptcy in India. It has INR 50,000 crore in default.

  3. Jaypee Group’s Assets The Adani Group already has elaborate plans to make a planned package offer to the lenders in the insolvency proceedings of Jaiprakash Associates Limited’s assets. The company already has plans to bid for Jaypee Group’s cement assets. As part of the resolution package, the Adani Group plans to offer INR 15,000 crore to the lenders to take control of two of the major Jaypee Group’s businesses: cement and real estate.

  4. Jaypee Group’s Assets Jaypee Group’s realty assets mostly include premium golf-centric residences and townships. The 452-acre Jaypee Greens township in Greater Noida is one of its premium assets. It offers luxury villas and apartments to individuals. These luxury villas come with parks, lakes and golf courses. The township also has a sports complex, a 60-acre nature park and a 5-star resort built in collaboration with Thailand’s Six Senses Spa.

  5. Adani’s Real Estate Presence The company’s realty business is primarily around Mumbai. It is worth INR 60,000 million currently excluding the Dharavi slum rehabilitation project. The Dharvi project may entail INR 4,00,000 million of which INR 56,000 million has already been invested. Around INR 1,50,000 million has been set aside for the initial phase. The company has other projects lined up as well which will further give its business a boost.

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