Anil Agarwal-promoted Vedanta has emerged as the highest bidder for bankrupt Athena Chhattisgarh Power Ltd (ACPL), outbidding Naveen Jindal’s Jindal Steel & Power Ltd (JSPL) in an auction process. Vedanta’s final offer of Rs 565 crore was much higher than the staggered payment of Rs 400 crore it had offered under the corporate insolvency and resolution process (CIRP). The auction process, which started on the morning of May 6, 2022 ended the next day.
