New Delhi: JSW, Dalmia Bharat, Jindal Power, Vedanta, GMR, Welspun and Torrent are among the top business groups that have submitted expressions of interest (EoIs) for Jaiprakash Associates Ltd (JAL), which will go under the hammer in a court-monitored insolvency proceeding, according to people aware of the matter.
The Adani Group is also expected to submit an EoI before the final deadline of March 25 as is another large Delhi-based industrial house, they said. Kotak Alternate Assets is also in the fray. The assets may be worth over $2 billion or ₹17,300 crore as per sources familiar with preliminary discussions on their valuation.
The EoIs are the first stage in the bidding process as lenders look to find a new owner for JAL….
