The global energy major has reached out to investors such as KKR and Brookfield for the stake sale. Shell is open to a part or full sale of the unit, which is expected to fetch an enterprise value of $1.6-1.8 billion
Shell was among the bidders for Sprng, along with Adani Group and renewable energy firm Greenko, Bloomberg News reported in March.
Shell is seen as a strong contender for the business, though Sprng’s private equity owner Actis is still evaluating the offers.
Anglo-Dutch oil major Royal Dutch Shell Plc said its Indian unit has been in talks with local authorities over a tax dispute, making it the latest global company to have a run-in with tax officials in the country.
Royal Dutch Shell Plc is expected to announced a 75% rise in underlying profit on Thursday, powered by higher oil prices and putting more distance between itself and troubled rival BP.