The State Bank of India (SBI)-led consortium of lenders to Coastal Energen, which owes them Rs 8,176 crore, on Monday sought bids for the stressed power plant from companies, funds and private equity investors.
In order to qualify as bidders, companies must have a consolidated net worth of at least Rs 500 crore and financial investors must have assets under management (AUM) of at least Rs 2,000 crore or committed funds of at least `1,000 crore for investment in India.
If a consortium bids for the power plant, the consolidated net worth of one of the consortium partners should be at least `500 crore, SBI Capital Markets (SBICaps) said in a bid document.
