Lenders to vote on Vedanta’s ₹2,800 crore offer for Lanco unit
Lenders have selected Vedanta NSE -0.57 %’s offer of ₹2,800 crore for a financially-stressed Lanco power unit, to put to a vote after its offer was declared higher than that of rival bidder iLabs Group, according to sources.
Vedanta and iLabs Group were the only two bidders under the Insolvency and Bankruptcy Code (IBC) provisions for the stressed thermal power company Lanco NSE -0.24 % Amarkantak that owns two operating power plants in Chhattisgarh and four that are under construction. ET had first reported the names of the two bidders in October last year.
