NTPC To Buy Reliance Infra Discoms

NTPC To Buy Reliance Infra Discoms
28/05/2020 , by , in ALLIED

State-run NTPC wants to acquire a majority stake in BSES Yamuna (BYPL) and BSES Rajdhani (BRPL), the subsidiaries of Reliance Infrastructure that supply electricity in Delhi. “It is submitted that NTPC is keen to explore the opportunities for acquiring 51% stake in BRPL and BYPL, which are on sale, provided the equity sale is done through a transparent process,” the company said in a letter to the Delhi Electricity Regulatory Commission (DERC).

Reliance Infrastructure had sold its Mumbai discom business to Adani Transmission in 2018 for Rs 18,800 crore, which helped the company reduce its debt by Rs 13,800 crore. At the end of FY19, the total assets of its Delhi distribution units were valued at Rs 25,526 crore. Total debt of BYPL and BRPL stood at Rs 1,900 crore at the end of FY20, sources said. As of March 2020, their revenue was Rs 15,250 crore with earnings before interest taxes depreciation and amortisation of Rs 2,050 crore.

About Realty Plus