A stake on the market in state-backed electrical energy dealer PTC India Ltd is attracting preliminary curiosity from potential suitors together with Asia’s richest man Gautam Adani, Bloomberg Information reported, citing folks accustomed to the event.
Adani is amongst potential bidders reviewing preliminary info on the enterprise, whereas different Indian conglomerates are additionally evaluating whether or not to bid, in accordance with the report on Friday.
State-owned entities NTPC Ltd, NHPC Ltd, Energy Grid Corp of India Ltd and Energy Finance Corp Ltd are working with an adviser to weigh promoting their stakes of round 4% every, with bids due as quickly as the top of the month, Bloomberg Information reported.
Adani Group, PTC India, NTPC, NHPC, Energy Grid and Energy Finance didn’t instantly reply to Reuters requests for remark.
PTC India, which additionally counts Life Insurance coverage Corp of India and Damodar Valley Corp amongst its shareholders, has a market capitalisation of Rs 2,464 crore.