It's official. IL & FS has emerged as the lowest bidder to run the Jacob Circle-Wadala Chembur monorail for a period of 10 years. A senior official from MMRDA said, "The financial bids to run the Jacob Circle to Wadala-Chembur monorail corridor were opened on Wednesday and with a Rs 2,000 crore quote, IL & FS has emerged as the lowest bidder, as Reliance Infrastructure had quoted an amount of Rs 6,408 crore.