Vedanta has been identified as the 'H1 Qualified Interested Bidder' as per the bid process of the consortium of lenders of GMR Chhattisgarh Energy (GCEL) for sale of controlling equity stake and restructuring of debt in GCEL.
The receipt of any Letter of Intent and completion of the acquisition is subject to the negotiations with the consortium of lenders to the satisfaction of both parties and other requisite approvals.