Reliance Power offers Rs 1,200 cr cash settlement to VIPL Lenders

25 May 2023 CW Team

Reliance Power, a subsidiary of Reliance Infrastructure, has put forward a lucrative proposal to settle the debt of its subsidiary, Vidarbha Industries Power Ltd (VIPL). The company has offered a one-time settlement (OTS) amounting to Rs 1,200 crore to the lenders of VIPL, which include prominent financial institutions like Axis Bank, SBI, Bank of Baroda, PNB, Canara Bank, and Bank of Maharashtra.

As of March 31, 2022, VIPL carries an outstanding loan of approximately Rs 2,200 crore. Reliance Power's OTS offer stands out due to its commitment to pay the entire amount in upfront cash. To solidify this proposal, Reliance Power has secured the support of Varde Partners, an investor based in Singapore, which has vested interests in another company within the Reliance group, Reliance Infrastructure Ltd.

VIPL operates a coal-based power project in Nagpur with a substantial capacity of 600 MW. Previously, CFM Asset Reconstruction Pvt Ltd, headquartered in Ahmedabad, made an all-cash offer of Rs 1,120 crore to VIPL's lenders. However, CFM ARC is now under scrutiny by the Reserve Bank of India (RBI) and the Income Tax Department for alleged malpractices and business misconduct.

Following CFM ARC's offer, National Asset Reconstruction Company Ltd (NARCL) stepped in and proposed an amount of Rs 1,150 crore to VIPL's lenders. However, NARCL's offer includes only 15 percent payable in upfront cash, while the remaining sum will be disbursed through interest-free installments over the course of five years. The net present value of NARCL's offer is estimated to be merely Rs 850 crore.

In contrast, Reliance Power's OTS offer of Rs 1,200 crore in full cash payment presents a significantly higher and more attractive alternative for the lenders of VIPL. This offer ensures a prompt resolution to the debt issue and provides the lenders with a favourable outcome.

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..