IL&FS invites EoI for selling stake in OTPC

The IL&FS Group has invited expressions of interest for the purchase of its stake in ONGC Tripura Power Corporation (OTPC). The Group holds 26 per cent stake in OTPC, which operates the 726.6 MW Palatana gas-based power plant. ONGC holds 50 per cent stake in the company, while India Infrastructure Fund-II (managed by Global Infrastructure Partners) and the Tripura government are the other stakeholders with 23.5 per cent and 0.5 per cent stake each. The last date for the submission of bids is June 8, 2020.