Kalpataru Power Transmission Limited (BSE:522287) (KPTL) and Amin Group intends to acquire Jyoti Structures Limited (BSE:513250). The lender of Jyoti have decided to convert INR 3.07 billion worth of loans into equity in December 2015, sources aware of the development told Financial Express. While bankers said the proposals were still in the early stages, these were discussed at the joint lenders' forum meeting held on January 28, 2016.

"These companies which have shown interest are already in the power transmission space, and as such, an acquisition could help revive Jyoti Structures," a banker present at the meeting said. Financial Express added that a KPTL spokesperson denied interest in Jyoti Structures and said in an emailed response, "There is no truth in it." An email sent to Amin Group seeking comments remained unanswered.