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Last Trade - 16/04/21

Sector
Industrials
Size
Small Cap
Market Cap £89.3m
Enterprise Value £657.1m
Revenue £1.57bn
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India's NTPC keen to buy Reliance Group's Delhi power distribution units

Thu 28th May, 2020 6:26am
By Sudarshan Varadhan
    CHENNAI, May 28 (Reuters) - India's largest electricity
generator NTPC Ltd  NTPC.NS  said it was interested in buying a
majority stake in Reliance Group's power distribution assets in
Delhi.
    "NTPC is keen to explore the opportunities for acquiring 51%
stake in BRPL and BYPL, which are on sale," it said in a letter
to the Delhi Electricity Regulatory Commission dated May 26.
    Reliance Infrastructure  RLIN.NS  owns a majority stake in
BSES Yamuna (BYPL) and BSES Rajdhani (BRPL), which are joint
ventures with the government of Delhi.
    The Reliance Group, controlled by Anil Ambani, has been
looking to cut debt by selling stakes in some of its companies.
It sold its Mumbai electricity distribution business to Adani
Transmission  ADAI.NS  in 2018.  
    "We would like to inform you that NTPC has decided to foray
into distribution sector and is keen on acquiring the
distribution assets," it said in the letter, referring to
Reliance subsidiaries BYPL and BRPL.

 (Reporting by Sudarshan Varadhan; Editing by Himani Sarkar)
 ((Sudarshan.Varadhan@thomsonreuters.com; +919810393152;
Twitter: https://twitter.com/sudvaradhan @sudvaradhan;))
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