A total of 22 entities have submitted bids in the expression of interest (EoI) process for the acquisition of Gupta Power assets, industry sources said, highlighting strong investor interest in the power sector’s stressed asset space.
Among the bidders are notable corporate groups including Jindal Power, Vedanta Ltd, and Havells India, alongside infrastructure funds and other strategic investors. The bidding process is aimed at identifying a suitable buyer for power generation and related assets previously owned by Gupta Power, which had faced financial stress and insolvency proceedings.
The wide participation in the bidding reflects continued interest in energy sector opportunities, particularly in assets with established generation capacity and strategic positioning. Analysts said that with policy support for capacity expansion, rising electricity demand and incentives for clean energy transition, buyers are expressing confidence in long-term value potential.
The acquisition process is being overseen by resolution professionals and advisers appointed to manage the Gupta Power sale, with the objective of maximising recoveries for creditors while ensuring business continuity. Qualified bidders have submitted their expressions of interest as part of the preliminary qualification phase, which will be followed by due diligence and request for proposal stages.
Jindal Power and Vedanta, both established players in the energy sector, are among companies known for expanding generation portfolios and integrating power assets with broader industrial operations. Havells, primarily an electrical goods manufacturer, has been diversifying its business interests and this participation underscores the broader appeal of energy infrastructure assets.
Industry observers noted that the participation of diverse bidders including strategic corporates and financial investors may lead to competitive proposals, potentially yielding higher valuations for the underlying assets. Successful acquisition candidates will need to demonstrate financial capability, operational plans, and compliance with regulatory requirements.
The Gupta Power transaction is being watched closely as part of a wider trend in India’s power sector, where stressed or under-performing assets are being offered to investors as part of resolution frameworks. Such sales are intended to accelerate the revival of capacity, inject fresh capital, and support overall sectoral stability.
The next phase of the bidding process will involve submission of detailed proposals by qualified bidders, followed by evaluation and negotiation of commercial terms. Industry stakeholders said that the process could take several months before a final resolution plan is approved and formal ownership transfers are completed.
