When the government takes over the Delhi-Gurgaon Expressway from the concessionaire DS Construction, the lender banks to the project might be forced to take a haircut of more than Rs 1,400 crore. Why because the National Highways Authority of India (NHAI) has informed the consortium of banks, led by IDFC Bank, that the Authority would pay the lenders only Rs 175-200 crore if it takes over the project.
Tag: DS Construction
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IDFC gets nod to acquire 74% in Delhi-Gurgaon h’way project
The majority stake owner of Delhi-Gurgaon Superconnectivity, the company which operates the connecting highway between Delhi and Gurgaon, is now set to change for the second time. National Highways Authority of India (NHAI) Board has approved a proposal allowing IDFC, which was one of the key lenders to DS Construction, to take over 74 per cent stake in the project.