Adani Group May Consider $1-Billion Bid for Jaypee’s Realty Assets: Reports
According to Mint, Adani Group is expected to submit a $1 billion bid for the bankrupt Jaypee Group’s extensive real estate holdings in the National Capital Region (NCR), which include upscale apartment buildings, villas, and golf courses. This would be the conglomerate led by Gautam Adani’s first foray into the largest real estate market in the nation.
If Adani’s bid is accepted, its real estate holdings might increase fourfold. According to the article, Jaypee’s flagship company, Jaiprakash Associates Ltd (JAL), is involved in the biggest bankruptcy case in India with over Rs 50,000 crore in default. The conglomerate’s offer is a component of a complete resolution package for JAL.
