Anil Ambani places up Delhi energy distribution companies on the market – enterprise information

Not less than eight buyers, together with Caisse de dépôt et placement du Québec (CDPQ), Actis LLP and Brookfield Asset Administration, have confirmed preliminary curiosity in shopping for Reliance Infrastructure Ltd’s Delhi electrical energy distribution companies, mentioned three individuals conscious of the event. The opposite potential buyers are Greenko Power Holdings, Enel Group, I Squared Capital, Torrent Energy and Wade Capital Group LLC, the individuals mentioned on situation of anonymity.

Reliance Infrastructure has employed KPMG to seek out consumers for its 51% stake every in BSES Rajdhani Energy Ltd (BRPL) and BSES Yamuna Energy Ltd (BYPL), the individuals mentioned on situation of anonymity. The 2 energy distribution companies cater to round 4.Four million prospects within the nationwide capital. Reliance Infrastructure’s plan to promote the companies follows the sale of its Mumbai metropolis energy distribution enterprise to Adani Transmission Ltd for ₹18,800 crore in August 2018. Reliance Infrastructure is a part of the Anil Dhirubhai Ambani Group, which is attempting to promote belongings to pay down debt.

Whereas a Reliance Infrastructure Ltd spokesperson didn’t reply to Mint’s queries emailed on Friday evening, a KPMG spokesperson declined to “touch upon any company-specific issues”. Queries emailed to CDPQ, Actis Llp, Brookfield, Greenko Power Holdings, I Squared Capital and Torrent Energy remained unanswered.

Whereas asserting the March quarter earnings on Might 8, Reliance Infrastructure mentioned it “goals to be zero debt within the subsequent monetary yr based mostly on liquidity occasions”.

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