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 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..