Adani, Jindal, and JSW in fray as 21 bidders file EoIs for GVK Energy

Adani Group, JSW Neo Energy and Jindal Power are among 21 firms that submitted Expressions of Interest for GVK Energy, which is under insolvency proceedings at NCLT

The Adani group, JSW Neo Energy, and Jindal Power Ltd (JPL) are among 21 bidders who have submitted Expression of Interest (EoI) for acquiring GVK Energy Ltd, which is currently undergoing insolvency proceedings, according to people in the know.

 

The list of resolution applicants also includes the Vedanta group, Torrent Power Limited, and Sarda Energy & Minerals Limited.

 

Sarda Energy’s plan to acquire SKS Power Generation had received National Company Law Tribunal’s (NCLT’s) approval in August 2024. “We are interested in the (GVK Energy) business as it naturally complements our existing power vertical. We already have 167 megawatt (Mw) hydropower