Meanwhile, for Anil Ambani, the potential auction of Vidarbha Industries would signify yet another blow in his long-standing battle against creditors. The attack had an astounding impact wiping out over $150 billion from Adani’s market value at one point. This move comes as Adani aims to recuperate from a severe setback caused by a short-selling attack launched by Hindenburg Research in January. If Adani emerges victorious in the bidding process it would further augment the conglomerate’s already expanding portfolio of coal power projects. The lenders are spearheading the sale process for the 600-megawatt generation facility situated in central India. led by Anil Ambani is also considering making an offer to regain control of the company. However, Adani might face fierce competition as Reliance Power Ltd. is currently up for auction by Indian lenders. The power plant operated by Vidarbha Industries Power Ltd. In a surprising turn of events billionaire Gautam Adani is reportedly contemplating a bid for a coal-fired power plant owned by the embattled Indian tycoon Anil Ambani. As such, the outcome hangs in uncertainty. In an equally important development, it has come to light that likely buyers have also been keeping an eye on Mr.Adanis NBFC. Ambanis’ ongoing efforts to settle issues with creditors.

Successfully securing ownership of said facility would provide notable expansion opportunities for Mr.Adanis coal- power venture whilst concurrently putting added pressure on Mr. It should be noted that this prospect invites potential competition from Reliance Power owned by none other than Anil Ambanis himself. In contemplation now is billionaire Gautam Adanis’s potential interest to enter a bidding process for Anil Ambanis’ coal power plant which currently falls under lenders’ jurisdiction.

Power plant tycoon