Reliance Infrastructure hired KPMG to find the buyers for 51% stake in BSES Rajdhani Power Ltd. (BRPL) and BSES Yamuna Power Ltd. (BYPL) and at least 8 investors like Actis LLP, Brookfield Asset Management, and Caisse de depot et placement du Quebec (CDPQ) have showed their initial interest in buying the Reliance Infrastructure Electricity Distribution Business of Delhi. The other potential investors like Greenko Energy Holding, I squared Capital, Wade Capital Group and the Enel Group on the condition of anonymity.
The two power distribution business cater around 4.4 million customers in the capital of the country. Reliance Infrastructure planned to sell the business of Mumbai City Power Distribution to Adani Transmissions Ltd for Rs 18,880 crore in August 2K18. Reliance Infrastructure is under Anil Dhirubhai Ambani Group which in order to pay the debt is trying to sell its assets.
While on the other hand a Reliance Infrastructure Spokesperson didn’t respond to Mint’s queried emailed on Friday night and also KPMG Spokesperson also declined to comment on the company matters. The queries emailed to all the stake buyers remained unanswered.
Reliance Infrastructure, while announcing on March quarter earning said “it is aimed to be debt-free in the next financial year based upon the liquidity events”.
For the latest updates, please stay tuned The TLC News.
