Reliance Infrastructure (RInfra) has signed Business Transfer Agreement for transfer of its Western Region System Strengthening Scheme (WRSSS) Transmission Undertakings.
WRSSS B & C Undertakings are being transferred to its two subsidiaries as part of process of sale of the businesses to Adani Transmission. Earlier in December 2016, RInfra has entered into Share Purchase Agreement with Adani Transmission for sale of WRSSS valuing the businesses at Rs 1,000 crore. The entire sale proceeds shall be utilized for debt reduction.
Reliance Infrastructure is one of the largest infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors such as Power, Roads and Metro Rail in the Infrastructure space and the Defence sector.
| Company Name | CMP |
|---|---|
| NTPC | 393.65 |
| Tata Power | 427.45 |
| Adani Power | 198.40 |
| Power Grid Corp | 318.05 |
| Torrent Power | 1565.30 |
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