Billionaire Gautam Adani is weighing a bid for the coal-fired power plants belonging to beleaguered Indian tycoon Anil Ambani that are currently being auctioned by an Indian bankruptcy court, according to people familiar with the matter.
Adani, fresh from a Rs 23000 crore capital raising, may face intense competition for Vidarbha Industries Power Ltd., which operates the 600-megawatt generation facilities in central India, according to the people, who asked not to be identified as the plans are private.
