Purvah Green Withdraws ₹5,750 Crore Bid for GVK Energy Amid Gulf War Uncertainties
Purvah Green has withdrawn its ₹5,750 crore resolution plan for GVK Energy, citing uncertainties from the Gulf war. The Adani Group submitted the second-highest offer of ₹5,725 crore. This decision reflects a trend of cost rationalization and strategic reshaping in response to the geopolitical situation.
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Purvah Green, part of the RP Sanjiv Goenka Group, has withdrawn its ₹5,750 crore bid for GVK Energy due to uncertainties stemming from the Gulf war. This follows a trend of strategic reshaping within the industry.
The Adani Group had the second-highest bid at ₹5,725 crore. Purvah informed lenders and resolution professional Venkata Chalam Varanasi of its decision to pause and rethink its investment strategy amid the ongoing geopolitical conflict. GVK Energy, which manages Alaknanda Hydro Power Co., was admitted for corporate insolvency in May 2025.
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