Reviving Value: NARCL Steps Up Recovery Drive in Stressed Assets

NARCL Bids ₹550 Cr for Jaypee Cement & Reliance Infra Assets

The National Asset Reconstruction Company Ltd (NARCL) has submitted binding bids worth ₹550 crore for two distressed assets—Jaypee Cement Corp and Reliance Infra’s Salem-Ulundurpet toll road. The bid for Jaypee Cement stands at ₹270 crore against a massive outstanding debt of ₹22,200 crore, while ₹280 crore has been offered for the toll project, which owes about ₹600 crore. These offers follow a 15:85 structure, with 15% in cash and the rest in sovereign-backed Security Receipts (SRs). Jaypee’s Shahabad unit includes a 1.2 MTPA cement grinding facility and a 60 MW captive power plant. A previous ₹5,666 crore deal with Dalmia Cement remains stuck due to regulatory hurdles. Meanwhile, JAL’s ₹12,700 crore loans have been transferred to NARCL by a 25-bank consortium led by SBI. With ₹1.6 lakh crore debt under its management, NARCL is banking on strategic resolutions or asset sales to unlock value and boost recovery.