Omkara Asset Reconstruction Company Acquires Key Stake in Wind World India

Omkara Asset Reconstruction Company secures Rs 3,763 crore debt of the bankrupt Wind World India by placing a Rs 1,225-crore bid. This acquisition grants Omkara an 80% voting share in the Committee of Creditors, making it the lead decision-maker in the ongoing Corporate Insolvency Resolution Process.

Omkara Asset Reconstruction Company has announced the successful acquisition of Rs 3,763 crore debt from the bankrupt Wind World India, secured with a bid of Rs 1,225 crore.

The strategic move places Omkara in a pivotal role as the lead decision-maker in Wind World India's Corporate Insolvency Resolution Process, securing an 80% voting share within the Committee of Creditors.

Previously known as Enercon India, Wind World India plays a critical role in the country's renewable energy sector, operating 650 MW of renewable projects and managing 4,500 MW of installed capacity across various Indian states.

(With inputs from agencies.)