RIL, Adani among 24 bidders for SKS Power

Reliance Industries, Adani Power and NTPC are among nearly two dozen bidders interested in buying the bankrupt SKS Power Generation in Chhattisgarh.

Others who have expressed interest include Torrent Power, Jindal Power, the Vedanta Group, DB Power, Sarda Energy & Minerals, Jindal India Thermal and also bad loan aggregators Aditya Birla ARC, Phoenix ARC and Prudent ARC.

SKS Power Generation has been undergoing corporate insolvency and resolution process (CIRP) since April 2022 and owes two lenders led by Bank of Baroda (BoB) a total of Rs 1,890 crore. BoB has the lion's share of the debt with Rs 1,740 crore in secured loans while State Bank of India (SBI) is the other creditor with Rs 150 crore in dues.

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