Jindal Power bids higher than Adani company for Lanco Amarkantak Power
Naveen Jindal-promoted Jindal Power (JPL) Tuesday gave a ₹4,203-crore, all-cash offer for acquiring Lanco Amarkantak Power, topping Adani Power’s ₹4,100 crore offer, said people with knowledge of the matter.
Last week, JPL sought the bankruptcy court’s approval to participate in the sale process of Lanco Amarkantak. On Friday, the Amaravati bench of National Company Law Tribunal (NCLT) directed JPL to submit a plan by Tuesday (January 16) to lenders along with a ₹100-crore bank guarantee. The NCLT will hear Wednesday JPL’s petition whether it can participate in the sale process.
