NBCC a step closer to acquiring Jaypee Infratech

NBCC has submitted its revised bid to acquire debt-ridden Jaypee Infratech. Shares of NBCC were up by one per cent in the morning session. 

Post acquisition, the company would complete over 20,000 delayed apartments in Noida. 

NBCC and Suraksha Group, are in the race to acquire the Jaypee Group firm. Suraksha had earlier submitted its revised bid. However, the details of the revised offers by NBCC and Suraksha were not immediately available. 

Earlier, NBCC signed agreements with Government of Republic of Mauritius for Project Management Consultancy for Construction of Mauritius Police Academy (MPA), Forensic Science Laboratory (FSL) and National Library & National Achieves (NA&NL) at Mauritius. 

NBCC provides civil engineering construction services. The company operates through three segments: Project Management Consultancy (PMC), Real Estate Development, and Engineering, Procurement and Construction (EPC). 

On Thursday, the shares of NBCC opened at Rs. 59.55 against Wednesday’s close of Rs. 59.55. At closing hours, the shares were at Rs. 58.70, down by 1.43 per cent. It reached an intraday high of Rs. 60.50 and an intraday low of Rs. 58.40 per share on the BSE. The 52-week high stood at Rs. 109.20 and 52-week low was at Rs. 47.20 per share on the BSE.