Reliance Infrastructure puts BSES Rajdhani, Yamuna discoms on block
KPMG to find buyers for its 51% stake
At least eight investors, including Caisse de dépôtet placement du Québec (CDPQ), Actis and Brookfield Asset Management, have showed initial interest in buying Reliance Infrastructure’s Delhi electricity distribution businesses.
The other investors are Greenko Energy, Enel Group, I Squared Capital, Torrent Power and Wade Capital Group.
Reliance Infrastructure has hired KPMG to find buyers for its 51% stake each in BSES Rajdhani Power (BRPL) and BSES Yamuna Power (BYPL).
The two power distribution businesses cater to around 4.4 million customers in Delhi. Reliance Infrastructure’s plan to sell the businesses follows the sale of its Mumbai city power distribution business to Adani Transmission for Rs 18,800 crore in August 2018.
Three of Delhi discoms were privatised in July 2002--BRPL, BYPL and Tata Power Delhi Distribution. The distribution firms are joint ventures (JVs) with Delhi Power Company, which owns a 49% stake in each of them.
The other discoms in Delhi are Military Engineering Services (for Delhi Cantonment) and the New Delhi Municipal Corporation.