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.