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.