Vantage Point is the highest bidder for SKS Power's bankruptcy

05 May 2023 CW Team

Vantage Point Asset Management of Singapore has made the highest offer of Rs 18 billion for the insolvent SKS Power Generation (Chhattisgarh). Ahmedabad-based Torrent emerged in second place, outbidding Vantage's offer by only Rs 70 million.

Jindal Power, which is controlled by Naveen Jindal and is based in Nagpur, and Sarda Energy also made competitive offers.

The committee of creditors (CoC) for SKS Power is reviewing the proposals and will vote on them soon. SKS has a 600 MW power plant in Chhattisgarh, which is currently operated by the state-owned NTPC, which made no strong acquisition bids for the business.

The two biggest corporations in India, Reliance Industries and the Adani Group, did not make any aggressive offers. Adani and Reliance fought for the Chhattisgarh Lanco Amarkantak power plant, but government-owned REC ultimately prevailed.

Also read:
Jaiprakash Associates defaults on million loan repayment
Bridgepointe Technologies and Bharti Airtel forms strategic alliance

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..