Dosti-Suraksha JV to acquire Jaypee Infratech – Feedback

Lakshadweep Pvt.Ltd., a joint venture formed by two companies promoted by people with ties to billionaire Dilip Shanghvi, is set to acquire Jaypee Infratech, the insolvency-hit developer that has to deliver about 25,000 apartments in Noida and is the operator of the Taj Expressway.

Proposed transaction by Lakshadweep, a JV between Suraksha Asset Reconstruction Company and Mumbai-based Dosti Reality, will result in the eventual delisting of Jaypee Infratech as almost all its equity capital will be written off, said two people familiar with the development. “The JV has outdone other leading contenders by a huge margin with a Rs 7,350 crore bid,”.

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