Jindal Power to Acquire Gujarat-based Bhadreshwar Vidyut
POWER & RENEWABLE ENERGY

Jindal Power to Acquire Gujarat-based Bhadreshwar Vidyut

Jindal Power is set to acquire Gujarat-based thermal power company Bhadreshwar Vidyut for approximately Rs 5 billion through the corporate insolvency resolution process. The acquisition will strengthen Jindal Power’s presence in Gujarat’s energy sector.

The company recently secured approval from the Committee of Creditors (CoC) and has received the Letter of Intent. The final resolution plan is valued at around Rs 4.70 billion, with Jindal Power planning to finance the acquisition through internal accruals. Additionally, an estimated Rs 250-500 million will be allocated for capital expenditure to enhance the acquired entity’s operations.

Bhadreshwar Vidyut, formerly known as OPGS Power Gujarat, was established as a special-purpose vehicle by the OPG Group. The company operates two coal-based power plants in Kutch, each with a capacity of 150 MW. The project was developed at a total cost of Rs 16.40 billion, with a debt-equity ratio of 75:25.

The company entered insolvency proceedings in October 2022 after lenders rejected a debt restructuring plan. The acquisition by Jindal Power is expected to provide financial stability and operational improvements to the thermal power plants while expanding the company’s footprint in the region.

News source: DeshGujarat

Jindal Power is set to acquire Gujarat-based thermal power company Bhadreshwar Vidyut for approximately Rs 5 billion through the corporate insolvency resolution process. The acquisition will strengthen Jindal Power’s presence in Gujarat’s energy sector. The company recently secured approval from the Committee of Creditors (CoC) and has received the Letter of Intent. The final resolution plan is valued at around Rs 4.70 billion, with Jindal Power planning to finance the acquisition through internal accruals. Additionally, an estimated Rs 250-500 million will be allocated for capital expenditure to enhance the acquired entity’s operations. Bhadreshwar Vidyut, formerly known as OPGS Power Gujarat, was established as a special-purpose vehicle by the OPG Group. The company operates two coal-based power plants in Kutch, each with a capacity of 150 MW. The project was developed at a total cost of Rs 16.40 billion, with a debt-equity ratio of 75:25. The company entered insolvency proceedings in October 2022 after lenders rejected a debt restructuring plan. The acquisition by Jindal Power is expected to provide financial stability and operational improvements to the thermal power plants while expanding the company’s footprint in the region. News source: DeshGujarat

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Expands to Global Markets

Vedanta Aluminium has expanded its digital e-commerce platform, Vedanta Metal Bazaar, to international markets, enabling overseas customers to order and purchase aluminium products online.The platform will now be available to buyers across Asia, Europe, Africa and the Americas, providing a digital gateway for export transactions with 24x7 access.In FY26, Vedanta Metal Bazaar processed transactions worth nearly $4.1 billion, or over Rs 380 billion, and fulfilled more than 23,000 orders. The platform is also used regularly by more than 550 MSMEs in India alongside large OEM customers.The export ..

Next Story
Infrastructure Urban

Ramky Infrastructure Q1 FY27 Revenue Rises 24.3%

Ramky Infrastructure Limited reported a 24.3% year-on-year increase in consolidated revenue from operations to Rs 471.2 crore for Q1 FY27, compared with Rs 3.79 billion in the corresponding quarter of FY26.Standalone revenue from operations rose 27.5% YoY to Rs 4.51 billion from Rs 3.54 billion, while total standalone income increased 35% to Rs 5.32 billion.Consolidated profit before tax stood at Rs 540.9 million during the quarter. The company highlighted a sharp sequential improvement compared with a pre-exceptional loss of Rs 190.1 million in Q4 FY26.Two of the three projects awarded during..

Next Story
Technology

LTTS Launches AgenticIQ AI Platform for Engineering

L&T Technology Services (LTTS) has launched AgenticIQ, an end-to-end agentic AI platform designed for engineering and manufacturing organisations.The platform is aimed at helping enterprises move beyond isolated AI pilots by enabling autonomous, multi-agent workflows across engineering, product development, manufacturing, industrial operations and customer experience.AgenticIQ is built on LTTS’ Engineering Intelligence portfolio and converts existing engineering capabilities into specialised, reusable AI agents. Its planning-first architecture is embedded into engineering and production ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement