Sovereign wealth funds of Qatar and Abu Dhabi as well as private equity major KKR have evinced interest in investing in Reliance Power, where promoters plan to sell part of their direct holdings to raise Rs 2,500 crore, investment banking sources said Tuesday. Part of the diversified Anil Ambani group, Reliance Power has appointed J P Morgan as the banker for the proposed stake sale, the sources said.
When contacted, the company declined to comment.
The sources said promoters plan to offload 18 to 19 per cent of their 30 per cent direct holding in the company. Overall, they would retain 51 per cent of direct and indirect shareholding post sale. At the end of December 2018, promoter entities held 75 per cent stake in the company, as per data available on the BSE.
