Torrent Power and Vantage Point Asset Management have appealed against the decision to award bankrupt SKS Power Generation to Sarda Energy & Minerals, alleging bias in the evaluation process. Both companies are seeking the court’s direction to reconsider their plans and provide another opportunity t…

SKS Power’s losing bidders challenge lenders’ decision

Sarda Energy Consolidated June 2023 Net Sales at Rs 1,052.12 crore, down 16.57% Y-o-Y

Sarda Energy Standalone June 2023 Net Sales at Rs 760.10 crore, down 7.24% Y-o-Y

Sarda Energy & Minerals, a Chhattisgarh-based vertically integrated producer of steel that also owns captive iron ore mines, outbid the Naveen Jindal group and Torrent Power in a bidding process for the company, which is being administered by a resolution professional, the sources said.

Sarda Energy emerges as top bidder for SKS Power

Nagpur-based Sarda Energy & Minerals, Delhi-based Jindal Power, public-sector utility NTPC, Gujarat-based Torrent Power, and Singapore-based Vantage Point Asset Management have submitted revised bids to take over SKS under the corporate insolvency resolution process.

Adani Group, Reliance Industries pull out of race to acquire SKS Power Generation

Sarda Energy & Minerals said that the Chhattisgarh Environment Conservation Board (CECB), Raipur has granted the consent to operate under water and air for expansion of rolling mill capacity.

Sarda Energy gets CECB nod for rolling mill capcacity expansion

Buzzing stocks: Patanjali Foods, NACL Industries, ITC, Sundaram Clayton, Ramkrishna Forgings, Titagarh Wagons, L&T Finance Holdings, Sarda Energy, Jaypee Infratech, Sunflag Iron, Mindspace REIT, NIBE, BLS International, Federal Bank

Stocks that will see action on March 16, 2023

Indicative bids from Nagpur-based Sarda Energy & Minerals, Delhi-based Jindal Power and the Adani Group are much lower and these bidders are no longer considered strong contenders to take over the plant, people familiar with the matter said.

RIL, NTPC, Torrent and Vantage seen leading race for SKS Power

Reliance Industries, the Adani Group, state-owned NTPC, Torrent Power, Jindal Power, Hindustan Powerprojects, Sarda Energy & Minerals and Jindal India Thermal are among some 23 entities that have expressed interest in the company.

Lenders to SKS Power give bidders a fourth deadline extension for due diligence

IndiaMart and Sarda Energy are buying back shares at a premium of 37% and 65%, respectively. However, an investor can participate in these buybacks only if they held shares as on the record date. The buyback opens on June 2 and the window will remain open till June 15.
Incase of IndiaMart, given the low issue size and high retail shareholding, the acceptance ratio is expected to be as low as 1.6%. While for Sarda Energy, given the decent issue size and lower retail shareholding, the minimum acceptance ratio could be 12.3%.
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IndiaMart InterMesh and Sarda Energy Buyback Opens Today | ET Now

Shreyans Industries Ltd, Sandur Manganese & Iron Ores Ltd, Salzer Electronics Ltd and Gulshan Polyols Ltd are among the other losers in the BSE’s ‘B’ group today, 23 May 2022.