ADANI POWER BID
JSW, Vedanta, Adani among companies keen to buy GVK Energy's asset
JSW Energy, Adani Power, and Vedanta are among the companies vying for GVK Energy's 330 MW Alaknanda hydro power project in Uttarakhand, as insolvency proceedings against GVK Energy move forward. Several other firms, including Torrent Power and Jindal Steel & Power, have also expressed interest in acquiring the plant.
Vedanta shares in focus as co emerges as highest bidder for Jaiprakash Associates
Vedanta Share Price: Vedanta emerged as the highest bidder for debt-laden Jaiprakash Associates with an NPV offer of Rs 12,505 crore. The plan involves a Rs 4,000 crore upfront payment and staggered payouts over five to six years. The company’s bid beat out other competitors, including Adani Group, Dalmia, Jindal Power, and PNC Infratech, in a challenge process conducted by the resolution professional.
Stocks in news: Hyundai India, Vedanta, Adani Power, Tata Motors, Aurobindo Pharma
Indian markets remained mostly stable on Friday, with several companies making headlines. Hyundai India will reduce prices following GST reforms, while Adani Power will develop a hydroelectric project in Bhutan. Vedanta's bid for Jaiprakash Associates includes a staggered payment plan, and Tata Motors will pass on GST benefits to commercial vehicle customers.
Jaiprakash Associates bid: Vedanta offers Rs 4,000 cr upfront payment, rest over 5-6 years
Vedanta Ltd has emerged as the highest bidder for debt-ridden Jaiprakash Associates Ltd (JAIL), offering a net present value of Rs 12,505 crore. The payment will be staggered, with Rs 4,000 crore paid post-NCLT approval and the balance over 5-6 years. This acquisition complements Vedanta's existing businesses and leverages JAL's assets in power, real estate, and mining.
Vedanta to pour Rs 17,000 cr into Jaiprakash Associates, beats Adani bid
Vedanta won the bid for Jaiprakash Associates with a ₹17,000-crore offer. It outbid Adani Enterprises in the insolvency battle. The deal involves major cement facilities. Only Vedanta and Adani submitted binding offers. Other suitors like Jindal Power and Dalmia Bharat did not participate. The Committee of Creditors will review Vedanta's winning bid. The resolution process for Jaiprakash Associates faced delays.
Vedanta beats Adani for acquisition of Jaiprakash Associates
Vedanta Group has emerged as the winning bidder for the debt-ridden Jaiprakash Associates (JAL), surpassing Gautam Adani's Group in a competitive acquisition process. The mining conglomerate's bid of Rs 17,000 crore translated to a net present value of Rs 12,505 crore. JAL, facing insolvency proceedings due to loan defaults, attracted multiple bidders, with Vedanta ultimately securing the deal.
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Race for investment in JP Power ahead of parent auction today
Adani Power, Kotak Alternate Assets, Vedanta, and Oaktree are vying for JP Power's ₹3,800 crore CCPS, potentially gaining a 25% stake and triggering an open offer for a controlling share. This move could give the winning bidder an edge in acquiring parent company Jaiprakash Associates, which is up for auction with a base price of ₹12,000 crore.
Lenders of bankrupt Jaiprakash Associates to meet Friday; challenge process among 5 bidders likely
Lenders of Jaiprakash Associates Ltd (JAL), currently undergoing insolvency proceedings, will convene on Friday to discuss the 'challenge process' among five bidders, including Adani Group and Dalmia Bharat, aiming to maximize asset value. This process, with a minimum bid of Rs 12,000 crore, seeks the highest financial proposal.
Azure group heads for $23m settlement in a US court
Azure group is nearing a settlement in a US court regarding bribery claims related to an Andhra Pradesh power project. The group has allocated $23 million for the settlement. Simultaneously, Azure intends to withdraw from a 150MW hybrid project in India, citing economic difficulties. The US court hearing is scheduled for September 5.
Adani Power to develop 800 MW thermal power plant in Madhya Pradesh for Rs 10,500 cr
Adani Power secures a major deal. It will supply power to Madhya Pradesh. The project involves setting up an 800 MW plant. This plant will be in Anuppur district. Adani Power will invest Rs 10,500 crore. The company won a competitive bid. The plant will be commissioned in 54 months. This move strengthens India's energy security.
Adani Power gets LoA for 2,400 MW thermal power project in Bihar
Adani Power has secured a Letter of Award from Bihar State Power Generation Company Ltd. to supply electricity for 25 years. The company will invest USD 3 billion to establish a 2,400 MW ultra-supercritical power plant in Bhagalpur district, Bihar. This project aims to meet India's growing power demand and generate employment opportunities.
US tariffs to worsen India solar panel glut as domestic bidding slows
Indian solar panel exports face challenges. U.S. tariffs may worsen India's solar panel supply glut. Anti-dumping duties are a concern for manufacturers. Domestic project bidding is slowing down. India's solar module factories are operating below capacity. Reliance on Chinese cell imports may increase. The situation could impact solar generation costs. The industry is adapting to changing market dynamics.
Vikram Solar listing tomorrow, GMP hints at double-digit premium. Here's what to expect
Vikram Solar’s IPO, heavily subscribed at 56.4x, is set to debut on August 26 with a grey market premium of Rs 41. The solar module manufacturer, with 4.5 GW capacity, plans expansion into cell manufacturing and battery storage. FY25 revenue stood at Rs 3,423 crore, with strong EBITDA and PAT growth.
Vikram Solar IPO subscribed 6.2x on Day 3; GMP hints at 14% listing pop. Should you subscribe?
Vikram Solar’s Rs 2,079 crore IPO has drawn robust demand, with overall subscription at 6.17 times on Day 3, led by strong retail and NII interest. The grey market premium of Rs 48 hints at a 14.5% listing gain. Backed by rapid capacity expansion and strong domestic demand, analysts recommend subscribing despite current lower margins.
Vikram Solar IPO subscribed 4.56 times on day 2, GMP signals 14% listing pop. Should you subscribe?
Vikram Solar IPO: As of August 20, Vikram Solar’s IPO was commanding a grey market premium (GMP) of ₹48. Against the upper price band of ₹332, this translates to an estimated listing price of ₹380, indicating a potential 14.5% gain.
Vikram Solar IPO subscribed 1.52 times on Day 1; GMP at 18%. Should you apply? Check other key details
Vikram Solar IPO: According to market observers, Vikram Solar’s shares are currently trading at a grey market premium (GMP) of approximately 18% above the upper end of the issue price, which is Rs 332 per share. This suggests robust investor interest ahead of the company's stock market debut.
India curbs solar power output to keep grid stable amid low demand, ministry says
India is reducing solar power generation during periods of low demand to stabilize the grid and alleviate power line congestion, according to the Ministry of New and Renewable Energy. This curtailment has led to significant revenue losses for solar producers, particularly in Rajasthan, due to delayed transmission projects and a slowdown in power demand.
Adani Power wins $3-b Bihar thermal project
Adani Power secured a tender to establish and manage a 2,400 MW thermal power plant in Bihar, investing $3 billion. The company bid ₹6.075 per unit for power supply, with the project operating under a design, build, finance, own, and operate model. This initiative is expected to create substantial employment opportunities during construction and operation.
Adani Power to build $3 bn thermal plant in Bihar after winning 2,274 MW supply contract
Adani Power has received a Letter of Intent from Bihar State Power Generation Company. The company will supply 2,274 MW of electricity. This power will come from a 2,400 MW thermal power project in Bhagalpur district. The project will use ultra-supercritical technology. Adani Power plans to invest around $3 billion in this greenfield project.
JSW Neo Energy, Blackstone, other cos line up for Statkraft wind-down
JSW Neo Energy, Blackstone, and KKR-backed Serentica Renewables have submitted binding financial bids for Statkraft's wind and solar energy assets in India, following a three-month due diligence process. Statkraft, exiting India, is selling its assets in two lots, with bids for hydropower assets due on August 16. The entire India portfolio is valued at $1.5 billion.
NARCL offers ₹550 crore for Jaypee Cement & Reliance Infra assets
For the Salem-Ulundurpet toll road, NARCL has offered ₹280 crore against total debt of about ₹600 crore. The bid for Jaypee Cement stands at ₹270 crore against outstanding debt of ₹2,200 crore. Dalmia Bharat had earlier shown interest in acquiring Jaypee's cement assets.
Can't take on big cement majors yet; will grow biz organically: Parth Jindal
JSW Cement will focus on organic growth rather than acquisitions, as it lacks the financial strength to compete with giants like Adani and Birla, said MD Parth Jindal. The company aims to raise ₹3,600 crore through its IPO, valuing it at ₹20,000 crore. IPO proceeds will be used for expansion and debt reduction, with a goal to double capacity to 42 MTPA.
India's stranded renewable projects double to over 50 GW, industry documents show
India's stranded renewable power capacity has more than doubled in nine months, reaching over 50 GW due to transmission line delays, legal issues, and regulatory hurdles. This surge in stalled projects, awarded but lacking power purchase agreements, threatens India's ambitious renewable energy goals. The industry group urges government intervention to address these bottlenecks and protect developers from financial penalties.
Dalmia Bharat pauses Jaisalmer plans, awaits Jaiprakash Associates bid outcome
Dalmia Bharat will postpone the construction of its planned 6 million tonne greenfield cement plant in Jaisalmer, Rajasthan, until the outcome of its bid for Jaiprakash Associates' assets is clear. The company aims to expand its capacity to 75 mt by fiscal 2028 and is waiting to assess the impact of the potential acquisition before proceeding with the Jaisalmer project.
MiG-21’s final flight may put private defence firms on frontline amid HAL’s drag
The Indian Air Force is finally retiring the MiG-21, often called the ‘flying coffin’, bringing to a close one of the longest and most controversial chapters in its history. Its intended replacement, the indigenous Tejas, is still facing production delays. To speed things up, private firms have been brought in to boost output. Meanwhile, the next big leap is the AMCA program, aimed at developing a fifth-generation fighter.
Adani group seeks Competition Commission's nod to acquire Jaiprakash Associates
The Adani group has applied for regulatory approval to acquire Jaiprakash Associates Limited. This move follows Adani's bid for the debt-ridden company, which is currently undergoing insolvency proceedings. Several other companies, including Dalmia Cement, have also expressed interest in acquiring JAL. JAL's assets include real estate projects, cement plants, and investments in various subsidiaries.
JP Power shares slide over 5%, extend decline for second day in row
JP Power is presently placed under Stage 1 of the ASM (Additional Surveillance Measure) framework — a regulatory mechanism designed to curb unusual price volatility and safeguard the interests of retail investors.
Lenders stuck as Adani's unconditional bid for JP Associates faces higher, conditional offers
Lenders of debt-laden JP Associates are facing a dilemma over Adani Enterprises’ ₹12,600 crore unconditional bid, which is not the highest but offers clarity and assurance. Other bidders like Dalmia Cement, Jindal Power, and Vedanta have submitted higher but conditional offers, primarily tied to unresolved land disputes. Under IBC, lenders can accept an unconditional bid even if it's not the highest.
JP Power shares slip 5%, halting 3-day rally that added 22%
JP Power shares: The drop comes after a strong three-day rally driven by high trading volumes and renewed investor interest. On Monday, JP Power gained 4.7% to reach ₹24.75, continuing its surge after hitting a new 52-week high of ₹24.86 on Friday.
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