In the race to acquire bankrupt infra company Jaypee Group, creditors unanimously voted in favor of Adani Enterprises’ proposal. While Anil Aggarwal’s Vedanta had made a higher bid, creditors preferred Adani’s plan due to better pre-payment terms. However, the NPV of Adani’s bid was about ₹500 crore less than Vedanta’s. Jaypee Associates has a total debt of ₹55,000 crore, and NARCL is its largest creditor. Initially, five companies had bid, but in the final e-auction, Adani seems to be coming out ahead and becoming the potential new owner. Jaypee Group’s portfolio includes Cement, Township, Power, Hospitality and the 1000-acre Sports City Project.

Jainik Power and Cables IPO is a fixed price issue of Rs 33.75 crore. It is a fresh issue of 35.52 lakh shares worth Rs 17.76 crore and a combination of 31.98 lakh offers for sale shares worth Rs 15.99 crore. From May 30, this issue will open for subscription and the bidding process will run till June 3. The company shares will be listed on BSE SME on 6 June. To know everything about 3B Films Limited IPO, watch the video end and if you like the video, do not forget to like, comment and share!