Lenders see faster resolution of Videocon debt with three big new bidders

Govt's PLI sops encourages Adani, Jindal to show interest in VIL's consumer durable business

With the Adani and Jindal groups and Mukesh Ambani-owned Reliance Industries joining the race to buy Videocon Industries' assets, lenders are expecting aggressive bids from the conglomerates for VIL's consumer durables and overseas oil assets which are sold in separate auctions. The entire asset sale exercise is expected to be completed in the next six months by the lenders, said a banker.

A promoter entity of Naveen Jindal-owned Jindal Steel and Power has also submitted interest in the second round of bids for VIL’s consumer durable business. The deadline to submit bids for VIL’s assets ended on February 2. The