Adani Power makes Rs 2,600-crore offer for Essar Power MP under IBC

New Delhi: Adani Power NSE 4.98 % has made a Rs 2,600-crore offer to acquire Essar Power MP under the Insolvency and Bankruptcy Code (IBC) rules, according to multiple sources.

The bid sets the stage for the comeback of such bankruptcy resolutions, just weeks ahead of the expiry of a March 25 deadline for the moratorium on filings of insolvency cases.