Lenders led by State Bank of India on Wednesday invited expressions of interest for a majority stake in the 1,980 megawatt (MW) thermal power plant.
Indostar had been looking to buy a 67% stake in ICICI Home Finance for Rs2,000 crore.
At the end of March 2016, Soma had a consolidated debt of Rs4,658 crore.
R. Thyagarajan, founder of the South India-based group, said that it’s too early to write an obituary for the IDFC-Shriram deal.
GIC is already an investor in Axis Bank. GIC & CPPIB are also LPs in Bain Capital.
It is also evaluating a plan to start a distressed asset fund.
The proposed merger of the two firms is stuck because of differences over the valuation of IDFC.
Amtek itself is one of the 12 companies identified by the Reserve Bank of India (RBI) for early bankruptcy proceedings.
Shareholders of IDFC such as Enam Holdings Pvt. Ltd and Sipadan Investments (Mauritius) Ltd have demanded a higher valuation for the company.
SEL has become the first company in the second list of corporate defaulters identified by RBI.