SKS Power lenders extend due diligence deadline

Lenders to distressed electricity producer SKS Power Generation (Chhattisgarh) Limited have extended the due diligence deadline for prospective buyers for a third time to December 9, 2022, pushing back the timeline for the resolution of the asset for which intense bidding is expected.

The last date was November 25, 2022, previously. There were requests from various bidders including NTPC Limited, Torrent Power, Adani and Jindal Power to extend the deadline. As many as 23 applicants have expressed interest in the company. These include Reliance Industries, the Adani Group, Torrent Power, Jindal Power Limited, Hindustan Powerprojects Private Limited, Sarda Energy and Minerals Limited and Jindal India Thermal Power Limited.