Jindal Power wins bid of Bhadreshwar Vidyut acquisition

4 Mar 2025 , 11:29 AM

Jindal Power has emerged as the winning bidder for Gujarat-based Bhadreshwar Vidyut, which is currently going through insolvency proceedings, as per the company’s bankruptcy administrator.

The Naveen Jindal-led private firm has reportedly offered around ₹500 crore for Bhadreshwar Vidyut, which operates thermal power plants in Kutch, Gujarat.

“Lenders have issued a letter of intent to Jindal Power as the successful resolution applicant,” said Hitesh Goel, the resolution professional for Bhadreshwar Vidyut.

Goel, appointed by the National Company Law Tribunal (NCLT) to oversee the insolvency process, added, “The next step is to present the resolution plan to NCLT for approval.”