RIL, Adani among 24 bidders for SKS Power

03 Aug 2022 CW Team

Reliance Industries, Adani Power and NTPC are among the nearly two-dozen bidders interested in buying the bankrupt SKS Power Generation located in Chhattisgarh.

Others that have expressed interest include Torrent Power, Jindal Power, the Vedanta Group, DB Power, Sarda Energy & Minerals, Jindal India Thermal and also bad loan aggregators Aditya Birla ARC, Phoenix ARC and Prudent ARC.

SKS Power Generation is undergoing a corporate insolvency and resolution process (CIRP) since April 2022 and owes two lenders led by Bank of Baroda (BoB) a total of Rs 1,890 crore. BoB has the lion's share of the debt with Rs 1,740 crore of secured loans while State Bank of India (SBI) is the other creditor with Rs 150 crore of dues.

"The expressions of interest (EOI) have come from different groups indicating the demand for the asset. This is an operational plant with all coal and purchase power agreements in place, a rarity in today's times. Large industrial groups even with a power sector exposure have shown interest because a captive plant with coal linkages will reduce their power expenses," said one of the people cited above.

Also read:
Modi urges states to expedite clearing power dues

Infrastructure Transport

20 Jun 2025

Dassault To Build Falcon Jets In India With Reliance

Reliance Infrastructure Ltd鈥檚 subsidiary, Reliance Aerostructure, has signed an agreement with France鈥檚 Dassault Aviation to manufacture Falcon 2000 business jets in India, with the first batch expected to roll out from its Nagpur facility by 2028. This marks the first time a Falcon aircraft will be entirely built outside France.The announcement sent Reliance Infrastructure shares surging, hitting the 5 per cent upper circuit on the BSE. Anil Ambani, Chairman of Reliance Group, hailed the agreement as a 鈥渟ymbol of India鈥檚 technological and manufacturing strength鈥�, adding that it aims..

Infrastructure Urban

20 Jun 2025

INDEA Lays Foundation for India鈥檚 First Auto Design School

The Indian School for Design of Automobiles (INDEA), the country鈥檚 first institute focused solely on automobile design and management, held its foundation stone ceremony at XLRI Delhi-NCR. The event was graced by Union Minister for Road Transport and Highways, Nitin Gadkari, who virtually unveiled the stone as Chief Guest.INDEA aims to become a premier talent hub, driving innovation in the Indian automotive sector. The school will focus on advanced design, mobility solutions, and sustainable practices, playing a vital role in shaping India鈥檚 transition from a cost-driven to a quality-led a..

Infrastructure Transport

20 Jun 2025

Karnataka Launches Global Innovation Hub at Airport City

The Government of Karnataka, in collaboration with Bengaluru Airport City Limited (BACL) and ANSR, has launched a global innovation hub named District I at Bengaluru Airport City's business park. The initiative aims to elevate India鈥檚 innovation ecosystem to a global scale by fostering collaboration among startups, academia, enterprises, and government bodies.District I will serve as a platform for deep-tech entrepreneurship, enterprise innovation, and commercialisation of academic research. It brings together Global Capability Centres (GCCs), IT firms, corporate labs, startups, venture capi..