Adani Group, RIL pull out of race to acquire SKS Power Generation

Adani Group and Reliance Industries have not submitted revised bids for SKS Power Generation (Chhattisgarh), making it a five-way contest for the 600 MW thermal power project, people familiar with the process said.

Nagpur-based Sarda Energy & Minerals, Delhi-based Jindal Power, public-sector utility NTPC, Gujarat-based Torrent Power, and Singapore-based Vantage Point Asset Management have submitted revised bids to take over SKS under the corporate insolvency resolution process.