JSW, Serentica, Blackstone in fray to buy Vibrant Energy

Brookfield, Sembcorp, and Actis also in race; Macquarie had first put Vibrant on sale in 2023

- Sneha Shah & Nehal Chaliawala

Financial and strategic investors, including JSW Group, Vedanta Group's Serentica, Blackstone, Brookfield, Sembcorp, and Actis, are looking at acquiring Vibrant Energy, a renewable energy company owned by Macquarie Group.

Three people with direct knowledge of the deal said non-binding bids will come in by early next month.

The first of the three persons cited earlier said Standard Chartered Bank, which is helping the Australia-based investment firm with the sale, has lined up 8-10 large buyers who are willing to examine the asset.

"A large group has been reached out to. Most prominent ones are JSW, Serentica, Brookfield, Blackstone, Actis and Sembcorp," the person added.

The second person said the company has an enterprise value of around $600-700 million or ₹5,000-5,700 crore. Enterprise value includes equity and debt on the books. He added that the equity value of the company stands at around $250-300 million.