CESC consolidates its non-Kol power supply outfits
Kolkata: RP-Sanjiv Goenka (RP-SG) group flagship CESC is consolidating its non-Kolkata power distribution business under one roof as part of the restructuring of the power utility. Besides Kolkata, different subsidiaries of CESC have distribution licences in other cities.
Earlier, CESC had a three-way split and only power business that includes generation, distribution were under the company while retail, real estate, IT being demerged into two companies, Spencer’s Retail and CESC Ventures.
The company has informed stock exchanges that the board has decided to reorient and reorganize the power distribution business of the company under Eminent Electricity Distribution, a wholly owned subsidiary of the company, as its distribution arm. “Over a period of time and subject to applicable laws, other distribution businesses would consolidate in Eminent all investments of the company in distribution business (other than in its operations in Kolkata and adjoining areas) will be in Eminent,” the company said in an exchange filing.
The distribution companies which would be consolidated are Kota Electricity Distribution, Bikaner Electricity Supply, Bharatpur Electricity Services, Malegaon Power Supply and Noida Power Company. The consolidated revenue of these five companies is over Rs 3,500 crore.
