The IL&FS group said on Monday that it has invited expressions of interest (EoIs) for the purchase of its stake in ONGC Tripura power plant joint venture. The group holds 26 per cent interest in the gas-based power plant. According to people in the know, ONGC could also bid for this stake.
In order to monetise the investment made by the IL&FS group in ONGC Tripura Power Company (OTPC), EoIs are invited for the acquisition of its 26 per cent stake, subject to necessary approvals, ILFS said in a statement.
The last date to submit bids is June 8. IL&FS has engaged Arpwood Capital and JM Financial to assist in the transaction. The project cost entailed debt of Rs 3,035 crore and equity investment of Rs 10,118 crore.
