JSPL acquires Monnet Power for Rs 4.10 billion
POWER & RENEWABLE ENERGY

JSPL acquires Monnet Power for Rs 4.10 billion

Jindal Steel and Power (JSPL) has purchased the bankrupt Monnet Power in an auction last month for Rs 4.10 billion, according to the reports.

Adani Power and J Kumar Infraprojects were also in the running to acquire the distressed thermal energy firm, according to one of many individuals mentioned above. The Naveen Jindal-led JSPL purchased Monnet Power for a captive objective. According to the individuals cited above, the 1,050 MW Monnet Power plant is located next to JSPL's Angul metal plant in Odisha, making the acquisition synergistic.

According to the primary individual, the successful bidder may need to invest at least Rs 10 billion to put the plant into operation. The liquidator had admitted claims totalling Rs 86.10 billion, with monetary collectors accounting for Rs 74.26 billion.

Also read:
Navi Mumbai seeks to top India’s cleanliness table
Gurugram’s SPR upgrade work likely to start early ‘23

Jindal Steel and Power (JSPL) has purchased the bankrupt Monnet Power in an auction last month for Rs 4.10 billion, according to the reports. Adani Power and J Kumar Infraprojects were also in the running to acquire the distressed thermal energy firm, according to one of many individuals mentioned above. The Naveen Jindal-led JSPL purchased Monnet Power for a captive objective. According to the individuals cited above, the 1,050 MW Monnet Power plant is located next to JSPL's Angul metal plant in Odisha, making the acquisition synergistic. According to the primary individual, the successful bidder may need to invest at least Rs 10 billion to put the plant into operation. The liquidator had admitted claims totalling Rs 86.10 billion, with monetary collectors accounting for Rs 74.26 billion. Also read: Navi Mumbai seeks to top India’s cleanliness table Gurugram’s SPR upgrade work likely to start early ‘23

Next Story
Infrastructure Urban

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Next Story
Infrastructure Urban

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Next Story
Infrastructure Urban

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, “We are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?