Five investors have reportedly put in non-binding bids to buy a stake of about 35 per cent in Jaiprakash Power Ventures Limited (JPVL). Initially, JPVL had received expressions of interest from 11 players; however, now only five players are involved in the bidding process. These are Brookfield Asset Management, India Power Corporation, Resurgent Power (a joint venture between Tata Power and ICICI Ventures), JSW Energy (in partnership with Piramal and Bain Capital), and Edelweiss Asset Reconstruction Company. The Bina, Nigrie and Vishnuprayag power projects with a total capacity of 2,200 MW are the three assets up for sale. In order to reduce financial stress, JPVL aims to complete the process by March 2017. The joint lenders’ forum of JPVL has appointed SBI Capital Markets Limited and EY to assist in the sale of a minimum 30 per cent equity stake in the company held by the consortium lenders to an investor.