SKS Power Generation’s lenders have received seven bids to take over the distressed power producer, people familiar with the matter said, setting the stage for a clash between Reliance Industries and the Adani Group.
The Chhattisgarh-based power company owes Rs 1,890 crore to two lenders, Bank of Baroda and State Bank of India. “We have received bids and they are being evaluated. The financial parameters of the bids will now be discussed, and lenders may also seek more details from bidders before selecting the preferred one,” one person who is aware of the process said.
