Jaiprakash Associates bid Vedanta offers Rs 4,000 cr upfront payment, rest over 56 years

Image for article Jaiprakash Associates bid Vedanta offers Rs 4,000 cr upfront payment, rest over 56 years
News Source : The Times of India

News Summary

  • Vedanta Ltd has emerged as the highest bidder for debt-ridden Jaiprakash Associates Ltd (JAIL), offering a net present value of Rs 12,505 crore.
  • The payment will be staggered, with Rs 4,000 crore paid post-NCLT approval and the balance over 5-6 years.
  • This acquisition complements Vedanta's existing businesses and leverages JAL's assets in power, real estate, and mining.
  • subscribe to The Economic Times Prime and read the ET ePaper online.
Mining conglomerate Vedanta Ltd in its winning bid for debtladen Jaiprakash Associates Ltd (JAIL) has offered Rs 4,000 crore payment post approval by NCLT and the balance amount over the next 56 ye [+2877 chars]

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