NARCL increases offer for Jaiprakash Associates' debt to Rs 12,000 crore | SEBI eases lock-in rules for InvITs and REITs under employee benefit scheme
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The government-backed bad loan aggregator National Asset Reconstruction Co (NARCL) has increased its offer to take over the debt of Jaiprakash Associates (JAL) even as the company's appeal against its admission into insolvency is pending before the National Company Law Appellate Tribunal (NCLAT).
Markets regulator Sebi on Wednesday exempted InvITs and REITs from specific lock-in and allotment restrictions when issuing units to an employee benefit trust under unit-based employee benefit (UBEB) schemes.
Morgan Stanley, Societe Generale and another entity on Wednesday picked up a total of 1.77 crore, or 6.82 per cent stake, of PNB Housing Finance through open market transactions worth Rs 1,664 crore.
The sale of The IL&FS Financial Centre (TIFC) in Mumbai’s Bandra-Kurla Complex has hit a hurdle after IL&FS undertook a fresh valuation which estimated that the value of its headquarters had gone up 57% to Rs 1700 crore, compared to the highest bid of Rs 1,080 crore in 2021, and asked Brookfield-affiliate Chronos Properties to pay more for the property.
Brigade Enterprises has reported a growth of 2.29 per cent in its net consolidated profit during the quarter ended September 30, 2024.
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