Tata Power, JSW Energy looking to acquire Prayagraj Power, says report
Updated : August 23, 2018 08:29 AM IST
Prayagraj Power Generation was earlier promoted by Jaiprakash Associates, which owes over Rs 11,000 crore to lenders.
The companies have offered an upfront payment of over Rs 6,000 crore and an equity stake to the lenders of Prayagraj.
The lenders now own the controlling stake in the unit after following the RBI strategic debt procedure.
Have you signed up for Primo, our daily newsletter?It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morningYOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more