Home » Private Sector » Tatas, Adani, CESC join race for R-Infra Delhi discoms; Creador leads Shriji stake race

Private Sector

Tatas, Adani, CESC join race for R-Infra Delhi discoms; Creador leads Shriji stake race

Tatas, Adani, CESC join race for R-Infra Delhi discoms

Tatas, Adani, CESC join race for R-Infra Delhi discoms; Creador leads Shriji stake race

Tatas, Adani, CESC join race for R-Infra Delhi discoms; Creador leads Shriji stake race – Tata and Adani groups also as power utility company CESC Ltd are getting to join the race for 51% stake each in BSES Rajdhani Power Ltd and BSES Yamuna Power Ltd, investment bankers told Business Standard.

This would bring the number of interested parties within the race to 11 after the bulk stakeholder of those Delhi power distribution businesses is Anil Ambani-led Reliance Infrastructure.

Previously, in August 2018, Adani Transmission Ltd acquired Reliance Infrastructure’s Mumbai city power distribution business for Rs 18,800 crore.

The suitors are going to be joining others like Caisse de dépôt et placement du Québec (CDPQ), Actis LLP and Brookfield Asset Management as also some others that have shown interest are Greenko Energy Holdings, Enel Group, I Squared Capital, Torrent Power, and Wade Capital Group LLC, a Mint report disclosed earlier.

Meanwhile, private equity firm Creador has emerged because the frontrunner to accumulate a minority stake in Shriji Polymers (India) Ltd, a packaging solution provider for the pharmaceutical industry.

The investor will buy about 20% stake in Shriji, which can comprise the 13% stake held by Tata Capital Healthcare Fund and a primary capital infusion, valuing the firm at around Rs 1,200 crore ($158 million at current exchange rate), two people within the know told The Economic Times.

Other players chasing the stake include Kedaara Capital, ChrysCapital, and Goldman Sachs. While the organizations like Creador has signed an exclusivity agreement with the prevailing investor, said one among the persons.

Tata Capital Healthcare Fund had invested Rs 40 crore in Ujjain-based Shriji in October 2015.

Read more Private Sector News on India Frontline – India’s best online corporate news portal for CSR, Corporate, Public & Private Sector, and Digital News and Trends.