NewsCorporate ActionsGVK Power Unveils Provisional List of 13 Bidders for Assets Under Insolvency ProcessGVK Power Unveils Provisional List of 13 Bidders for Assets Under Insolvency Process
GVK Power & Infrastructure, under Corporate Insolvency Resolution Process, has released a provisional list of 13 Prospective Resolution Applicants for its assets across five categories. Notable bidders include Jindal Power Limited and Hindustan Thermalprojects Ltd for all categories, Adani Airport Holdings Limited for GVKADL stake, and JSW Projects Limited for GVK Perambalur SEZ Private Limited. The list is subject to clarifications, with objections to be submitted by July 30, 2025.
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GVK Power & Infrastructure , currently undergoing Corporate Insolvency Resolution Process (CIRP), has released a provisional list of 13 Prospective Resolution Applicants (PRAs) for its assets. The company, which was admitted into CIRP under the Insolvency and Bankruptcy Code, 2016, has attracted interest from various prominent entities across five asset categories.
Asset Categories and Notable Bidders
The company invited expressions of interest for the following asset categories:
- Category I: The entire corporate debtor as a going concern
- Category II: 100% shareholding in GVK Perambalur SEZ Private Limited
- Category III: 1.75% shareholding in GVK Airport Developers Limited (GVKADL)
- Category IV: 100% shareholding in GVK Energy Limited (currently under CIRP)
- Category V: Corporate debtor with residuary assets, excluding shareholdings in the above-mentioned subsidiaries
Among the notable bidders, Jindal Power Limited and Hindustan Thermalprojects Ltd have shown interest in all five asset categories. Other significant applicants include:
- Adani Airport Holdings Limited, bidding for the 1.75% stake in GVKADL
- JSW Projects Limited, expressing interest in the 100% shareholding of GVK Perambalur SEZ Private Limited
- A consortium of J Kumar Developers Limited & J Kumar Software Systems (India) Private Limited (10%-90%) for Category I
Diverse Interest Across Categories
The provisional list reveals a diverse range of interested parties across various sectors:
| Category | Notable Bidders |
|---|---|
| All Categories | Jindal Power Limited, Hindustan Thermalprojects Ltd |
| Category I | Consortium of J Kumar Developers and J Kumar Software Systems |
| Category II | JSW Projects Limited, Tube Investments of India Limited |
| Category III | Adani Airport Holdings Limited, Capri Global Holdings Private Limited |
| Category IV | Jindal India Power Limited, Unison Hotels Private Limited |
| Category V | Orissa Metaliks Private Limited (Rashmi Group) |
Next Steps in the Resolution Process
The Resolution Professional, Satish Kumar Gupta, has stated that the list is subject to clarifications from the EOI Applicants and Provisional PRAs. Interested parties have until July 30, 2025, to submit any objections to the inclusion or exclusion of PRAs in the provisional list.
This development marks a significant step in GVK Power & Infrastructure's insolvency resolution process, attracting potential investors across various segments of its business. The final list of approved resolution applicants will be crucial in determining the future of the company and its assets.
As the process unfolds, stakeholders will be keenly watching how these expressions of interest translate into concrete resolution plans for GVK Power & Infrastructure.
Historical Stock Returns for GVK Power & Infrastructure
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.54% | -5.87% | +12.16% | +9.17% | -47.06% | +27.24% |
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