Jaiprakash Power: 2 of 11 suitors put in final bids

Resurgent and Brookfield eye firm

Only 2 out of 11 suitors have put in final bids for the beleaguered Jaiprakash Power Ventures. On the block as part of strategic debt restructuring (SDR), the company has drawn non-binding bids from Resurgent Power Ventures Pte and Brookfield Asset Management, a person close to the development said.

Earlier, Adani Power and JSW Energy and Edelweiss Asset Reconstruction Company were among those formally expressing interest in the company carrying a debt of Rs 12,440 crore as of March-end. Of the five companies that gave a presentation to the lenders’ consortium, only two put in bids. The person quoted above said