SBI in Talks to Down-sell Part Loan for Adani’s Lanco Acquisition
ECONOMY & POLICY

SBI in Talks to Down-sell Part Loan for Adani’s Lanco Acquisition

State Bank of India (SBI), India’s largest government-owned bank, is negotiating with peer banks to down-sell a portion of an INR 1,800-crore loan it extended to Adani Power for acquiring Lanco Amarkantak Power, a 600 MW thermal power plant. Sources familiar with the matter said the loan was given under a 12-year term, with an interest rate of around 10.5%.

The bank is looking to sell INR 1,200 crore of the loan to other lenders. SBI and Adani Group declined to comment on the matter.

In 2023, Adani Power acquired Lanco Amarkantak Power for INR 4,101 crore under the corporate insolvency resolution process. The first phase, consisting of two 300 MW units, has been operational since the company entered insolvency proceedings. The second phase, under construction, will add another 1,200 MW capacity. Adani Power repaid a significant portion of the debt using the plant’s cash flow and additional funds raised from internal sources.

Adani’s acquisitions in the thermal power sector also included Coastal Energen, which was purchased for INR 3,440 crore earlier this year.

State Bank of India (SBI), India’s largest government-owned bank, is negotiating with peer banks to down-sell a portion of an INR 1,800-crore loan it extended to Adani Power for acquiring Lanco Amarkantak Power, a 600 MW thermal power plant. Sources familiar with the matter said the loan was given under a 12-year term, with an interest rate of around 10.5%. The bank is looking to sell INR 1,200 crore of the loan to other lenders. SBI and Adani Group declined to comment on the matter. In 2023, Adani Power acquired Lanco Amarkantak Power for INR 4,101 crore under the corporate insolvency resolution process. The first phase, consisting of two 300 MW units, has been operational since the company entered insolvency proceedings. The second phase, under construction, will add another 1,200 MW capacity. Adani Power repaid a significant portion of the debt using the plant’s cash flow and additional funds raised from internal sources. Adani’s acquisitions in the thermal power sector also included Coastal Energen, which was purchased for INR 3,440 crore earlier this year.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code