Adani Power New Offer: Adani Power has submitted a fresh bid to buy Lanco Amarkantak Power. Adani Group company has now increased its bid…
Adani Group company Adani Power has again shown interest in purchasing Lanco Amarkantak Power, a company going through bankruptcy process. Adani Power has increased its bid for this. Now the Adani Group company has presented an increased offer of Rs 3,650 crore. Such information is being given in the news.
Earlier Adani’s offer was so big
In a recent report by ET, quoting two people associated with the matter, it has been said that Adani Power has again shown interest in buying Lanco Amarkantak Power. Now the company has increased its bid to Rs 3,650 crore. Earlier in December, Adani Power had made an offer of Rs 2,950 crore.
Votes came in favor of this offer
Apart from Adani Power, other companies also submitted bids for Lanco Amarkantak Power in December. However, most of the lenders then voted in favor of the bid by a PFC-led consortium. The consortium’s offer was Rs 3,020 crore. After that Adani Power had taken itself out of the race. However, now Adani’s company has again shown interest.
Runs power plant in Chhattisgarh
According to the report, Adani’s new offer can be considered by the committee of creditors of Lanco Amarkantak Power today itself i.e. on November 2. Lanco Amarkantak Power is going through the insolvency process after its bankruptcy. The company runs a coal-based thermal power plant near the Korba-Champa highway in Chhattisgarh.
Reliance’s offer was so big
Earlier, Mukesh Ambani’s Reliance Industries had also shown interest in buying it. Reliance Industries’ offer was worth Rs 2,103 crore. In the voting held on the offers of the three parties i.e. PFC led consortium, Adani Power and Reliance Industries, the maximum number of lenders voted for the consortium. 95 percent votes were cast in favor of the consortium, while Adani Power got 17 percent votes. Not a single vote came in favor of Reliance Industries, after which Reliance Industries withdrew from the case.
