CESC’s subsidiary emerges highest bidder for Chandigarh biz at Rs 871 crore

Eminent Power, a subsidiary of CESC NSE -2.34 % Kolkata, has emerged as the highest bidder to take over Chandigarh Electricity Distribution business for Rs 871 crore, sources said.

The company pipped six firms including Torrent Power that quoted Rs 606 crore, NTPC’s bid of Rs 563 crore and ReNew Power that quoted Rs 551.5 crore for the distribution business. Adani Power quoted Rs 471 crore, while Tata Power bid Rs 426 crore. Sterlite Power quoted the lowest Rs 201 crore, they said.