Adani New Deal: Adani showed power in buying this company, gave such a big offer that many giants were left behind

Gautam Adani’s Adani Group is once again back on the path of aggressive expansion of business. Adani Group, one of the largest business groups in the country, is expanding its business rapidly. The group is now just two steps away from making another big deal in the power sector.

Adani Power made the highest bid

According to a report by ET, Adani Group’s power company Adani Power may soon conclude a new deal. It is now just two steps away from buying Chhattisgarh’s troubled power company KSK Mahanadi Power. Adani Power has made an offer of Rs 27 thousand crore to buy KSK Mahanadi Power, which is considered to be the biggest bid.

Many giants are involved in the race to buy

KSK Mahanadi Power is currently undergoing the insolvency process. Apart from Adani, many big names are in the race to buy it. Capri Global Holdings, Coal India, NTPC, Vedanta, JSW Energy, Jindal Steel and Power, iLab India Special Fund, Rashmi Metallics, and Sherisha Technologies have also placed bids for KSK Mahanadi Power. However, according to ET’s report, Adani Power has come out on top in the race with an offer of Rs 27 thousand crore.

KSK Mahanadi Power has this much capacity

KSK Mahanadi Power has power generation plants with a capacity of 1,800 MW, which makes it an attractive offer. This is the reason why big businessmen like Adani, Jindal, and Anil Agarwal are showing interest in buying it. Along with this, government companies like Coal India and NTPC are also in the race.

Lenders will get a 92 percent recovery

The offer presented by Adani Power is the highest bid and ensures 92 percent recovery for the lenders of KSK Mahanadi Power. Adani Power’s offer includes Rs 12,500 crore upfront cash, Rs 9,000 crore cash deposited with the three operational plants of KSK Mahanadi Power, and estimated receipts of Rs 5,500 crore.

After Adani, these two offers are the biggest

If we look at other offers, after Adani Power, the second biggest bid is said to be from Capri Global Holdings (Rs 25,000 crore). NTPC is at number three by offering Rs 22,200 crore.