JSW Energy emerges as top bidder for KSK Mahanadi Power
Six companies participated in a two-day intense bidding process.
JSW Energy emerges as top bidder for KSK Mahanadi Power
Sajjan Jindal-backed JSW Energy emerged as the top bidder for KSK Mahanadi Power, offering Rs 15,985 crore to financial creditors and outbidding Adani Power at an auction that ended on Saturday, said sources.
Six companies participated in a two-day intense bidding process. Adani Power opted out of the race after making a final offer of Rs 15,885 crore in the 10th round, people cited above said. JSW Energy, the sole bidder in the 11th round, topped Adani’s bid by Rs 100 crore. JSW and Adani offered a 26% equity stake to lenders and another Rs 100 crore to operational creditors.
Financial services firm Capri Global was also on the list but exited after making a final offer of Rs 15,850 crore in the 10th round, while Naveen Jindal promoted Jindal Power, Anil Agarwal’s Vedanta and government-owned power company NTPC Ltd were active bidders until the 9th round of the bidding process, as per sources.
Read Also : How to Prepare for Unexpected Questions in Bank PO InterviewsThe KSK Mahanadi Power Project is a coal-powered thermal power plant located in Chhattisgarh, India. It is owned and operated by KSK Energy Ventures, a private company.
Read Also : What Sports to Bet on During Major Events in IndonesiaNews Must Read
- Delhi Metro awards maintenance contract to Beumer India for Airport Line
- SBI recognized as Best Bank in India for 2024 by Global Finance Magazine
- Solex Energy collaborated with SBI to provide finance for solar projects
- BPCL signs pact with Oil India to develop city gas distribution project in Arunachal Pradesh
- Ramesh Krishnamurthi appointed as new CPFC Chief
- HPCL invested Rs.3,771 crore in Q2FY25 to boost refining, signed multiple agreements
- IIM Shillong, SIDBI joins hands to strengthen Northeast Entrepreneurship
- GRSE launches 7th Anti-Submarine Warfare Shallow Water Craft
- NLCIL Q2 Results: PAT declines 9.2% stands at Rs 982.41 crore
- REC Limited incorporates new subsidiary company