RIL, Adani, NTPC among bidders for SKS power

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

Others that have expressed interest include Torrent Power, Jindal Power Limited, the Vedanta Group, Diliigent Power Private Limited (DB Power), Sarda Energy and Minerals Limited, Jindal India Thermal Power Limited 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 18.90 billion. BoB has the lion’s share of the debt with Rs 17.40 billion of secured loans while State Bank of India (SBI) is the other creditor with Rs 1.50 billion of dues.