Reliance Infrastructure logo

RELINFRA - Reliance Infrastructure News Story

₹35.05 0.4  1.0%

Last Trade - 16/04/21

Small Cap
Market Cap £89.3m
Enterprise Value £657.1m
Revenue £1.57bn
Position in Universe 849th / 3109

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
    "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)
 ((; +919810393152;
Twitter: @sudvaradhan;))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.