Tata Power is looking to scale down its international business by selling off its non-core assets and looks to double down in India, as it sees an upsurge in demand for power business in the country.
Talking to BusinessLine, Praveer Sinha, CEO and MD, Tata Power, said the company’s plans to sell assets should bring in ₹2,000-2,500 crore, which will be used to pare debt and fund growth plans in India. “None of these countries give us big benefits. So, we feel that we can better utilise that money for our growth plans in India,” he added.
₹48,506-cr gross debt
Tata Power is looking to move out of Zambia, South Africa and Georgia. By selling these assets and some land parcels, Sinha is hoping to bring down the debt to equity ratio.
