Reliance Power has revised its offer to lenders of VIPL, proposing a payment of Rs 1,260 crore, which is higher than the previous offer of Rs 1,200 crore.
The revised offer is supported by Varde Partners, a reputable global private equity firm that has invested in Reliance Power.
Lenders of VIPL are scheduled to convene on June 22 to evaluate the revised offer.
Acceptance of the offer would enable Reliance Power to exit the loss-making VIPL project and concentrate on its core business activities.
This increases the chances of the offer being accepted by the lenders.
If the offer is accepted, it will help Reliance Power to exit the loss-making VIPL project and focus on its core business.
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It will also help the lenders to recover their dues and reduce their losses.
Overall, the revised offer by Reliance Power is a positive development for all stakeholders involved.
