Only Resurgent Power, Brookfield bid for Jaiprakash Power

Jaiprakash Power had earlier converted Rs 3,058 crore of its debts into equity upon invocation of strategic debt restructuring

Only two out of 11 suitors have put in final bids for the beleaguered Jaiprakash Power Ventures. On the block, as part of a 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 ARC 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