NTPC to join race for Delhi discoms

NEW DELHI: India’s largest power generation utility NTPC Ltd wants to buy Reliance Infrastructure’s Delhi electricity distribution businesses, said a person, who asked not to be identified.

Enel Group of Italy, Torrent Power Ltd and Greenko Group have separately submitted their non-binding offers on Friday to separately buy a 51% stake each in BSES Rajdhani Power Ltd (BRPL) and BSES Yamuna Power Ltd (BYPL). KPMG is managing the stake sale.

NTPC and BSES spokespersons declined comment. “As a policy, we cannot comment on any company-specific matters,” a KPMG spokesperson said in an emailed response.

“We have learnt from media reports that Reliance ADAG wants to divest its 51% stake in BSES Rajdhani Power and BSES Yamuna Power,” said NTPC in a May 26 communication to Delhi State Electricity Regulatory Commission, reviewed by Mint. “We would like to inform you that NTPC has decided to foray into distribution sector and is keen on acquiring the distribution assets”.

MUMBAI: Kalpana Morparia, chairman, South and South-east Asia, Jpmorgan, has announced her desire to retire from the American bank, after more than a decade at the helm. She will stay on with the bank till the end of Q1 of fiscal year 2021.

Leo Puri, who was the managing director and chief executive of UTI Mutual Fund, will take charge as the new chairman of South and South-east Asia of Jpmorgan.

At Jpmorgan, Puri will be supported by Murli Maiya, who will take charge as the new CEO.