Jaypee Infratech locked in 5% upper circuit ahead of CoC meeting to evaluate potential bidders

Jaypee Infratech locked in 5% upper circuit ahead of CoC meeting to evaluate potential bidders

Jaypee Infratech shares were locked in 5 percent upper circuit at Rs 3.67 on Tuesday after a media report indicated that Committee of Creditors are expected to evaluate potential bidders.

There were pending buy orders of 4,61,458 shares, with no sellers available, at closing levels.

Sources told CNBC-TV18 that Committee of Creditors of Jaypee Infratech is expected to meet later today to evaluate potential bidders for the acquisition of company.

Company’s lenders are expected to take note of 5 expressions of interest and final bids for the company are likely to be invited by January 2019, sources said.

Suraksha ARC-Lakshdeep, Kotak Investment, NBCC, Cube Highways and L&T Infra have submitted expressions of interest for Jaypee Infra.

The company has a debt of close to Rs 10,000 crore.

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