NARCL makes offers to PSU lenders for Jaypee Infratech debt

NARCL’s ₹3,570-crore offer for the ₹9,234 crore debt held by nine public sector lenders has triggered a Swiss challenge auction. Lenders led by IDBI Bank have invited expressions of interest on October 10 and scheduled an auction on October 27, according to a bid document circulated to ARCs. NARCL will have the right to match the winning bid and take over the debt.

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