SKS Power Generation receives 7 bids, Reliance, Adani, NTPC among bidders

It can set the stage for another clash between the Adani and Reliance groups

The lenders of SKS Power Generation have received bids for a takeover in exchange for payment of Rs 1,890 crore it owes to the Bank of Baroda and the State Bank of India (SBI), a report in the Economic Times (ET) said.  

Among the bidders are Reliance Industries, the Adani Group, NTPC, Torrent Power, Jindal Power, Sarda Energy & Minerals and Singapore-based Vantage Point Asset Management. Currently, two of SKS Power's plants are being operated by NTPC for a fee. 

"We have received bids and they are being evaluated. The financial parameters of the bids will now be discussed, and