A 27-bank consortium, led by IDBI bank, has asked loss-making Lanco Infratech to sell more assets or raise capital through the qualified institutional placement (QIP) route to salvage its finances.
Recently, in the largest deal yet in the thermal power sector, Lanco Infratech had sold its 1,200-megawatt (MW) Udupi power plant to debt-laden Adani Power, part of the Adani Group, for R6,000 crore.