22 Bidders, Including Jindal Power and Vedanta, Submit Offers for Gupta Power Amid Insolvency Proceedings

Gupta Power Infrastructure, a manufacturer of cables, wire rods and conductors, is undergoing insolvency proceedings and has attracted interest from a broad set of potential acquirers. 

Bidders and Key Participants 

As per The Economic Times report, the expressions of interest include Jindal Power, Vedanta, Havells India, UltraTech Cement, Waaree Energies, Torrent Electricals, Himadri Speciality Chemical, Orissa Metaliks and ABCI Infrastructures.  

Engineering and manufacturing firms such as Karamtara Engineering, Cabcon India, Transrail Lighting, Titagarh Rail Systems and JSK Industries have also lodged bids, some as part of consortiums.  

Non banking finance company Authum Investment & Infrastructure is listed among the applicants and two investors have filed bids individually. 

Insolvency Process and Admitted Claims 

The National Company Law Tribunal Kolkata Bench admitted the insolvency petition filed by a consortium of banks led by Canara Bank on September 26, 2025. The petition records debtor claims totalling ₹4,240 crore.  

Pradeep Kumar Kabra has been appointed as the interim resolution professional to oversee the corporate insolvency resolution process. The deadline for submission of resolution plans is February 20, 2026. 

Read More: Canara Bank Seeks Bidders for ₹577 Crore Supreme Housing Debt Portfolio! 

Consortium Structures and Individual Bids 

Several bidders have formed consortiums to strengthen their proposals, combining resources from engineering, manufacturing and financial sectors. The two individual investors are expected to present standalone plans.  

The diversity of bidders reflects the strategic value of Gupta Power’s manufacturing capabilities within the power infrastructure supply chain. 

Conclusion 

Gupta Power Infrastructure has received expressions of interest from 22 entities, including major power and industrial players. The insolvency case involves ₹4,240 crore in claims and a resolution deadline of February 20, 2026, with the appointed interim professional overseeing the process. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

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