Three companies are vying for Reliance Infrastructure’s Delhi electricity distribution business.
Italy’s Enel Group is competing with Greenko Group and Torrent Power to acquire Reliance Infrastructure’s Delhi electricity distribution business. The company is looking to sell assets to pay off lenders. The unit is India’s largest in terms of consumers.
Reliance Infrastructure had hired KPMG to find buyers for the 51 percent stake each it holds in BSES Rajdhani Power (BRPL) and BSES Yamuna Power (BYPL). The Delhi government owns the remaining 49 percent in both.
The three companies submitted bids on 22 May 2020 to comply with the deadline. Reliance Group is expecting an enterprise valuation of Rs 5,000 crore, inclusive of debt. Reliance Infrastructure sold the Mumbai city power distribution business to Adani Transmission for Rs 18,800 crore in August 2018.