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HomeBusinessLanco Update: Adani-Ambani landed to buy this debt-ridden thermal power company, see...

Lanco Update: Adani-Ambani landed to buy this debt-ridden thermal power company, see offer

Lanco Amarkantak Power Limited : The country’s thermal power product maker Lanco Amarkantak Power Limited (Lanco Amarkantak Power Limited) company is in crisis today, and is ready to be sold in the market. For its acquisition, two well-known industrialists of the country, Gautam Adani and Mukesh Ambani, have entered the fray. In this, Mukesh’s Reliance Industries and Gautam Adani’s firm Adani Power are bidding for the acquisition of this company.

Both submitted bids
Reliance has made a bid of Rs 1,960 crore for this company. Which is the highest offered by Reliance Industries so far. At the same time, Gautam Adani’s Adani Power has submitted a bid of Rs 1,800 crore. Apart from this, the Power Finance-REC consortium has made an offer of Rs 3,400 crore.

3 companies in the race to buy
Both the companies have submitted binding bids for the acquisition of Lanco Amarkantak Power Limited. Apart from this, Power Finance Corporation has also bid in partnership with REC Ltd. In this way, 3 companies have been included in the race to acquire Lanco Amarkantak Power.

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There have been direct collisions before
After telecom, biogas, there is a direct competition between Gautam Adani and Mukesh Ambani in another sector. Ambani’s Reliance Industries and Adani’s company Adani New Industries (ANIL) have also come face to face in the compressed biogas (CBG) sector.

These states get electricity
Lanco operates a coal-based thermal power project on the Korba-Champa state highway in Chhattisgarh. Let us tell you that 300-300 MW power is being supplied to Haryana and Madhya Pradesh from Lanco’s Patadi plant. PFC, REC and NTPC, a company run by collaboration in 3 states, also borrowed money to Lanco. About 42 percent of the loan is owned by Power Finance Corporation. This company has shown interest in breeding. If she comes to L1 during breeding, her loan will also be recovered.

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