Subhash Chandra-promoted Essel Infra has now initiated talks with ACME Solar Holdings Ltd to sell the same solar energy assets.
Rating agency Crisil had said that it expects the development of these six airports to attract potential investments worth $1.4 billion.
The trustees also named Noel Tata, chairman of Trent Ltd, and Jehangir H.C. Jehangir, as trustees of Sir Ratan Tata Trust.
JSW Steel will now pay $6.28 billion in upfront cash to Bhushan Power and Steel’s lenders and infuse ₹350 crore in the steelmaker to revive it.
InvITs are trusts that manage income-generating infrastructure assets, typically offering investors regular yield and a liquid method of investing in infrastructure projects.
The transaction is part of Tata Steel’s strategy to offload its marginal assets globally and find partners for its more significant international businesses.
JSW is likely to be an equity partner with the Ruias’ Essar group, along with foreign financial investors.
Essel Infra is in talks with Cube Highways and Infrastructure, Adani Enterprises and three Canadian pension funds.
The group is undertaking a series of asset monetization programmes to pay off its ₹91,000 crore debt.
Other overseas entities that have shown interest include German airport operator AviAlliance, Global Infrastructure Partners (GIP) and Sydney-based AMP Capital.