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NTPC eyeing majority stake in BSES Delhi: Report

The discom is jointly owned by Reliance Infra (51 percent stake) and the Delhi government (49 percent stake).

May 28, 2020 / 04:03 PM IST
 
 
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NTPC is reportedly eyeing a majority stake in Reliance Infrastructure's BSES Yamuna and Rajdhani power distribution company (discom) in Delhi.

Apart from NTPC, Enel, Greenko and Torrent Power have also submitted bids, CNBC-TV18 reported.

NTPC has decided to foray into the distribution business and keen on the sale “provided the equity sale is done through a transparent process“. It has written to the Delhi Electricity Regulatory Commission (DERC) evincing interest in the deal, sources told CNBC-TV18.

The discom is jointly owned by Reliance Infra (51 percent stake) and the Delhi government (49 percent stake). The license for Reliance Infra-Delhi JV ends in 2029.

Sources added that the acquisition will help NTPC forward integration as it already supplied 70 percent of the discoms’ power requirements.
Moneycontrol News
first published: May 28, 2020 04:02 pm

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