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Adani and Reliance Continue Bidding for Lanco Amarkantak as Jindal Power Drops Out

This gives the Adani Group an excellent scope to acquire control over the thermal power company. The acquisition will also boost Adani Poweru2019s business after the Adani Group controversies. The company will be able to ensure a seamless power supply in different remote regions of India.

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Adani and Reliance Continue Bidding for Lanco Amarkantak as Jindal Power Drops Out

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  1. ADANI AND RELIANCE CONTINUE BIDDING FOR LANCO AMARKANTAK AS JINDAL POWER DROPS OUT

  2. Jindal Power has recently dropped from the race to acquire the thermal power company Lanco Amarkantak, leaving Adani and Reliance in the bidding race. This has offered an excellent edge to the Adani Group as it takes one step ahead towards acquiring Lanco and expanding its control over the power sector. So, here, we will look at what happened during the bidding process and what Adani Group’s chances of winning the bid are.

  3. The Bidding Process Previously, Jindal Power had bid more than Adani Power to acquire Lanco, but now, the company has dropped out of the bidding. Three main companies are competing in the acquisition race: Adani Power, Reliance Industries, and Power Finance Corporation Limited. This gives the Adani Group an excellent scope to acquire control over the thermal power company. The acquisition will also boost Adani Power’s business after the Adani Group controversies. The company will be able to ensure a seamless power supply in different remote regions of India.

  4. WHAT CAUSED JINDAL POWER TO DROP OUT OF THE BID? As per recent news, Jindal Power has applied with the Amravati National Company Law Tribunal (NCLT) to withdraw its petition despite outbidding Adani Power in the previous bidding session. This decision was mainly because Jindal Power was not comfortable giving upfront and unconditional offers. That is why they pulled out of the race. Presently, Adani Power is the highest bidder in the acquisition race for Lanco Amarkantak, dramatically increasing its chances of emerging victorious in the bidding process.

  5. THANK YOU

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