Tag: welspun

IndustryLatest Stories

Lavasa Bidders Boost Offers; Valor Estates on Top in Round 3

All three bidders have boosted their financial offers for the struggling Lavasa Corp during the third round of bidding, increasing the competition for what was originally set to be India’s first hill town. Valor Estates has significantly raised its bid to ₹946 crore based on net present value (NPV), placing it in the lead among the contenders. The Welspun-Ashdan consortium has also hiked its bid to ₹845 crore from a previous offer of ₹776 crore on an NPV basis, leaving the Mumbai-based Yogayatan Group in third place with an NPV of ₹830 crore, according to sources familiar with the situation.…

IndustryLatest Stories

Lavasa’s Rebids Approved as Creditors Extend Timeline

Creditors of the financially troubled Lavasa Corporation have opted to prolong the resolution timeline, allowing bidders another opportunity to enhance their bids for the real estate project. This extension was prompted by Valor Estate, which submitted an improved proposal after the initial deadline, according to sources familiar with the situation. Lenders plan to reconvene on Friday to determine the new deadline for all bidders, likely extending it by two months from the original August 29 deadline, they indicated. “Following extensive discussions, the lenders have agreed that the Valor bid should be considered, necessitating another chance for other bidders to adjust…