Adani, Jindal Power Cos in Race to Buy Ind-Barath Thermal

Gautam Adani-promoted Adani Power NSE 2.16 % and Naveen Jindal-promoted Jindal Power (JPL) are in the race to acquire Ind-Barath Thermal Power in a bankruptcy auction, two people aware of the development told ET.

Interest in distressed power companies has recently increased due to a shortage of power supply and the government nudge to state-owned banks to finance them.

Deepak Maini, the resolution professional of the insolvent company, the Adani group and JPL did not respond to ET’s query.