Jindal Power, Vedanta and Havells India are among 22 prospective bidders that have submitted expressions of interest (EoIs) to acquire debt-laden Gupta Power Infrastructure, which has admitted debtor claims of ₹4,240 crore and is undergoing insolvency proceedings, people aware of the development told ET. The company, which is a manufacturer of cables, wire rods, and conductors, is being resolved under the corporate insolvency resolution process (CIRP).
Other interested bidders include UltraTech Cement, Waaree Energies, Torrent Electricals and Himadri Speciality Chemical, Orissa Metaliks and ABCI Infrastructures. The deadline for submission of resolution plans is February 20.
Some bidders have come as consortium partners. Engineering and manufacturing companies including Karamtara Engineering, Cabcon India, Transrail Lighting, Titagarh Rail Systems and JSK Industries have submitted EoIs.
Non-banking finance company Authum Investment & Infrastructure is also among the applicants. Two investors have filed bids in their individual capacities, the people added.
The National Company Law Tribunal (NCLT), Kolkata Bench, admitted the insolvency petition filed by a consortium of banks led by Canara Bank on September 26, 2025, appointing Pradeep Kumar Kabra as the interim resolution professional (IRP).
Source: Economic Times