+
Prominent players eye Renaissance Indus Infra in insolvency bidding
Real Estate

Prominent players eye Renaissance Indus Infra in insolvency bidding

According to informed sources, several prominent entities, including Adani Logistics, the JSW Jaigarh Port owned by Sajjan Jindal, the TVS Group, and the Welspun Group, have expressed keen interest in participating in the bidding process for Renaissance Indus Infra. This company specialises in warehouse and industrial park development and is currently undergoing insolvency proceedings.

Within the Renaissance Group, two distinct special-purpose vehicles, overseen by promoter Mayur Suchak, are currently navigating insolvency challenges. The first, Renaissance Indus Infra, focuses on warehousing and industrial development in the vicinity of Bhiwandi, Mumbai, while the second, Renaissance Urban Infra, is involved in infrastructure development and the creation of industrial smart cities.

Additionally, other noteworthy contenders, such as IIFL Facilities Services, Authum Investment and Infrastructure (which recently acquired assets from Reliance Home Finance and Reliance Commercial Finance), and JC Flowers Asset Reconstruction Company (known for its acquisition of Yes Bank's distressed assets portfolio worth Rs 480 billion), have also submitted expressions of interest (EoI), as confirmed by one of the individuals mentioned earlier.

It's worth noting that Clearwater Capital Partners Singapore Fund and Catalyst Trusteeship are the sole creditors for the special-purpose vehicles within the Renaissance Group that have been admitted for corporate insolvency proceedings. Ares SSG Capital serves as the exclusive bondholder, with catalyst acting as the debenture trustee.

Despite the National Company Law Tribunal admitting both cases separately, the lenders are actively working on a group resolution plan. Birendra Kumar Agarwal is the Resolution Professional (RP) overseeing both special-purpose vehicles.

As per disclosures on the Insolvency and Bankruptcy Board of India's website, the RP has acknowledged claims amounting to Rs 10.97 billion for Renaissance Indus and Rs 11.18 billion for Renaissance Urban.

According to informed sources, several prominent entities, including Adani Logistics, the JSW Jaigarh Port owned by Sajjan Jindal, the TVS Group, and the Welspun Group, have expressed keen interest in participating in the bidding process for Renaissance Indus Infra. This company specialises in warehouse and industrial park development and is currently undergoing insolvency proceedings.Within the Renaissance Group, two distinct special-purpose vehicles, overseen by promoter Mayur Suchak, are currently navigating insolvency challenges. The first, Renaissance Indus Infra, focuses on warehousing and industrial development in the vicinity of Bhiwandi, Mumbai, while the second, Renaissance Urban Infra, is involved in infrastructure development and the creation of industrial smart cities.Additionally, other noteworthy contenders, such as IIFL Facilities Services, Authum Investment and Infrastructure (which recently acquired assets from Reliance Home Finance and Reliance Commercial Finance), and JC Flowers Asset Reconstruction Company (known for its acquisition of Yes Bank's distressed assets portfolio worth Rs 480 billion), have also submitted expressions of interest (EoI), as confirmed by one of the individuals mentioned earlier.It's worth noting that Clearwater Capital Partners Singapore Fund and Catalyst Trusteeship are the sole creditors for the special-purpose vehicles within the Renaissance Group that have been admitted for corporate insolvency proceedings. Ares SSG Capital serves as the exclusive bondholder, with catalyst acting as the debenture trustee.Despite the National Company Law Tribunal admitting both cases separately, the lenders are actively working on a group resolution plan. Birendra Kumar Agarwal is the Resolution Professional (RP) overseeing both special-purpose vehicles.As per disclosures on the Insolvency and Bankruptcy Board of India's website, the RP has acknowledged claims amounting to Rs 10.97 billion for Renaissance Indus and Rs 11.18 billion for Renaissance Urban.

Next Story
Infrastructure Energy

Tata Power, Suzlon Ink Rs 60 Billion Wind Energy Deal in Andhra

Tata Power has signed an agreement with Suzlon Energy to develop, construct, and supply 700 megawatt (MW) wind turbines in Andhra Pradesh. The Rs 60 billion project forms part of a 7 gigawatt (GW) renewable energy plan announced by Tata Power Renewable Energy (TPREL) and the state government in March 2025.This marks the first wind energy project in the state since 2019. The larger 7 GW programme, covering solar, wind, and hybrid projects with or without storage, is expected to attract investments of around Rs 490 billion, making it one of the state’s largest clean energy commitments.The turb..

Next Story
Infrastructure Transport

Odisha Approves Rs 12.6 Billion For 32 New Bridges

Odisha is set for a major infrastructure boost with the approval of 32 new bridges under the Setu Bandhan Yojana for FY 2025–26. The project, valued at Rs 12.6 billion, is aimed at improving road connectivity across ten districts, enhancing mobility and driving local development.The bridges will be constructed in Bolangir, Subarnapur, Nayagarh, Sambalpur, Malkangiri, Bargarh, Koraput, Jagatsinghpur, Cuttack, and Puri. Many of these areas are rural or located in difficult terrains, where improved accessibility will greatly benefit the transportation of goods and public mobility.Setu Bandhan Y..

Next Story
Infrastructure Transport

UP Plans Rs 350 Billion Gorakhpur–Shamli Expressway

Uttar Pradesh is preparing to build its largest expressway, a 700-km six-lane project that will surpass the 570-km Ganga Expressway from Meerut to Prayagraj. Designed as a greenfield project, the Gorakhpur–Shamli Expressway will cut travel time between eastern and western Uttar Pradesh to just six hours, transforming regional connectivity.The expressway will pass through 22 districts and 37 tehsils, bringing faster travel and significant economic benefits, including higher land values for farmers and employment opportunities during and after construction. A drone survey to map the route is e..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?