IL&FS invites buyers to sell 26% stake in ONGC Tripura Power
MUMBAI: Infrastructure Leasing & Financial Services (IL&FS) group on Monday sought expressions of interest (EoI) from potential buyers to sell its entire 26% stake in gas-based power plant ONGC Tripura Power Company Ltd. The proposed sale is part of IL&FS’ ongoing asset monetisation plan.
Other shareholders in ONGC Tripura are Oil And Natural Gas Corporation Ltd, which holds 50%, American infrastructure investment fund Global Infrastructure Partners, which owns 23.5% through its fund India Infrastructure Fund-II, and the government of Tripura that holds the balance 0.5%, on a fully diluted basis.
To be eligible to submit an EoI, corporate buyers must have a minimum net worth of ₹150 crore as per the audited balance sheet as of 31 March, 2019, or later.
