Suraksha Group's Massive Infusion in Jaypee Infratech: A New Dawn for Stalled Projects

Suraksha Group has injected Rs 250 crore and arranged a Rs 3,000 crore loan for Jaypee Infratech after acquiring it through insolvency. This financial boost aims to complete 20,000 unfinished flats in Delhi NCR. Additionally, a new board has been constituted, and significant construction contracts have been awarded to accelerate the projects.

Suraksha Group has infused Rs 250 crore into Jaypee Infratech following its acquisition through the insolvency process. This financial injection, along with a Rs 3,000 crore loan facility, prepares the company to complete approximately 20,000 unfinished flats in the Delhi NCR region.

Currently, Jaypee Infratech Ltd (JIL) holds Rs 1,250 crore, combining the new infusion and internal cash from its real estate ventures and toll income from the Yamuna Expressway. Suraksha Group has arranged additional credit lines to guarantee the funding of stalled projects, bringing the total required investment to between Rs 6,500 and Rs 7,000 crore.

Suraksha Group has accelerated construction in the 62 active towers and awarded contracts for 41 of the stalled 97 towers. Full-scale construction is expected by October. The company's board has been reshuffled, and the group is committed to timely project completion to serve stakeholder interests. The NCLAT's decision in May to uphold Suraksha's acquisition bid aims to expedite the resolution process.

(With inputs from agencies.)