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Jun 28, 2007, 03.11 PM IST
CNBC-TV18 has learnt that domestic electric equipment maker RTS Power is likely to sell 14.5% stake to a strategic partner.
CNBC-TV18 has learnt that domestic electric equipment maker RTS Power is likely to sell 14.5% stake to a strategic partner.
A couple of leading power equipment companies are in the race to acquire stake, sources said. The company may issue preferential shares to strategic investors.
Companies like Kalpataru Power and ABB are the likely contenders. It was also in talks with L&T at some point of time. RTS Power was looking for a strategic partner to bring in a lot of business.
According to sources, the deal is likely to be closed in a fortnight. The company’s management declined to comment.
RTS Power is a leading supplier of transformers in India. The current order book stands at Rs 100 crore and 80% of it is from transformers. The company’s capacity expansion is on track and the current capacity stands at 7,500 MVA.
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