Even at a time when the power generation sector is under stress, lenders of Jaiprakash Power Ventures have managed to get as many as 11 suitors for the beleaguered company. Adani Power, JSW Energy and Resurgent, a joint venture of ICICI Ventures and Tata Power, are among those who have put in expressions of interest. While two of the Jaiprakash group companies — Jaiprakash Infrastructure and Jaiprakash Associates — are under insolvency resolution, Jaiprakash Power is under strategic debt restructuring (SDR). A consortium of banks, including IDBI and SBI, had taken over ...
Adani Power, JSW Energy and ICICI Ventures and Tata Power's joint venture, Resurgent, are among the 11 bidders for beleaguered Jaiprakash Power, which is undergoing strategic debt restructuring after having been taken over by a consortium of banks the year ending 31 March. The Uttar Pradesh energy firm has installed power generation capacity of 4,200 MW, and made a loss of INR761 crore ($119m) in last year.