RInfra plans to sell its stake in BSES discoms

Reliance Infrastructure Limited (RInfra) is planning to sell its 51 per cent stake in Delhi distribution companies – BSES Rajdhani Power Limited and BSES Yamuna Power Limited. Reportedly, the Italy-based Enel Group and domestic firms such as Greenko Group and Torrent Power have evinced interest in acquiring the stake. RInfra is also in discussion with various private equity funds – CDPQ, Actis LLP and Brookfield Asset Greenko Energy Holdings, Enel Group, I Squared Capital and Wade Capital Group LLC Management. RInfra is expecting an enterprise valuation of Rs 50 billion inclusive of debt. RInfra’s plan to sell the businesses follows the sale of its Mumbai city power distribution business to Adani Transmission Limited in August 2018. RInfra is looking at monetising its assets mainly to pare debt.

GET ACCESS TO OUR ARTICLES

Enter your email address