Reliance Infra shares rise as four players show interest in Mumbai power biz; retreats

NEW DELHI: Shares of Reliance Infrastructures climbed nearly 3 per cent in Tuesday's morning trade to eventually end the day over 1 per cent lower after the company received interest from at least four players for its Mumbai power business, comprising generation, transmission and distribution with estimates.

The sale may help the Anil Ambani group repay around 70 per cent of the Rs 20,000-crore debt with the company. Following the report, the stock rose 2.83 per cent to Rs 478 on BSE. It however, parred early gains and ended the day 1.54 per cent down at Rs 457.65 on BSE.

Sources told TOI that Sources that Hyderabad-based Greenko, CLP of Hong Kong, Tata Power and Enel of Italy had evinced interest in the assets that are now on the block.

Tata Power, however, denied it. In a statement, Tata Power said, "We are not aware of anyone from Tata power having been approached."

The others could not be reached for comment.

Meanwhile, an ET report suggests that Greenko, backed by Singapore's GIC and Abu Dhabi Investment Authority, has the Mumbai electricity business for an enterprise value of Rs 13,000-14,000 crore ($2.15 billion).