+
Vantage Point is the highest bidder for SKS Power's bankruptcy
POWER & RENEWABLE ENERGY

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

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


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

Next Story
Infrastructure Urban

India to Invest Rs 600 Billion to Upgrade 1,000 ITIs

As part of its drive to modernise vocational training, the Ministry of Skill Development and Entrepreneurship (MSDE), in collaboration with Gujarat’s Labour and Employment Department, held a State-Level Workshop at the NAMTECH Campus within IIT-Gandhinagar to discuss the National Scheme for ITI Upgradation.The consultation brought together key stakeholders from industry and the training ecosystem to align expectations and support implementation of the scheme, which aims to transform 1,000 Industrial Training Institutes (ITIs) across India using a hub-and-spoke model. The total outlay stands ..

Next Story
Infrastructure Urban

India Unveils Rs 600 Billion Maritime Finance Push

The Ministry of Ports, Shipping & Waterways (MoPSW) hosted the Maritime Financing Summit 2025 in New Delhi, bringing together over 250 stakeholders including policymakers, industry leaders, global investors, and financial institutions. The summit, held under the ambit of Maritime Amrit Kaal Vision (MAKV) 2047, focused on transforming India into a leading maritime power with strengthened financial, infrastructural, and technological capabilities.Union Minister Sarbananda Sonowal emphasised India's strategic progress, noting that average port turnaround times have dropped from four days to u..

Next Story
Infrastructure Urban

Govt Allocates Rs 500 Million To Boost Community Radio

The Central Government, through its ‘Supporting Community Radio Movement in India’ scheme, has allocated Rs 500 million to strengthen the community radio ecosystem across the country. The initiative aims to assist both newly established and long-operational Community Radio Stations (CRSs), ensuring their relevance to local educational, social, cultural, and developmental needs.According to the policy published by the Ministry of Information and Broadcasting, CRSs may be set up by not-for-profit organisations with at least three years of demonstrated community service. These stations are ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?