Adani, JSW, TVS eye Renaissance Indus Infra deal

06 Sep 2023 CW Team

Several companies have expressed their interest in bidding for Renaissance Indus Infra, a warehouse and industrial park developer currently undergoing insolvency proceedings. Among these companies are Adani Logistics, JSW Jaigarh Port owned by Sajjan Jindal, TVS Group, and Welspun Group.

It has been reported that two special-purpose vehicles established by Mayur Suchak's Renaissance Group, namely Renaissance Indus Infra and Renaissance Urban Infra, are both facing insolvency. Renaissance Indus Infra is primarily involved in warehousing and industrial development in and around Bhiwandi, Mumbai, while Renaissance Urban Infra is engaged in infrastructure development and the establishment of industrial smart cities.

In addition to these companies, 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 (which acquired distressed assets worth Rs 480 billion from Yes Bank) have also submitted expressions of interest (EoI), as stated by one of the sources.

The only two creditors for the SPVs (Special Purpose Vehicles) of the Renaissance Group admitted for corporate insolvency are Clearwater Capital Partners Singapore Fund and Catalyst Trusteeship. Ares SSG Capital is the sole bondholder, with Catalyst serving as the debenture trustee.

Despite the National Company Law Tribunal admitting both cases separately, the lenders are working towards a group resolution. Birendra Kumar Agarwal is the Resolution Professional (RP) responsible for both SPVs.

Also read:
Delhi Metro's Unlimited Ride Scheme Boosts Tourism
MRVC to revamp Mumbai's Harbour Line Stations for Rs 1.3 bn

Infrastructure Transport

16 Sep 2025

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..