Torrent Power’ bid highest for Dadra and Nagar Haveli, and Daman and Diu discoms
New Delhi: Torrent Power has placed the highest bid for power distribution companies (discoms) of Dadra and Nagar Haveli, and Daman and Diu, the company said in a statement.
According to two people aware of the development, while Torrent Power bid around ₹555 crore for acquiring 51% stake in the discoms of these two union territories (UTs); its bid was followed by that of ReNew Power Ventures Pvt. Ltd and Adani Group, with each bidding around Rs450 crore. Kolkata based CESC Ltd bid around Rs300 crore in the sale process run by SBI Capital Markets, as part of the discom privatization exercise for the eight Union territories.
The bids were opened on Saturday. India seeks to privatize the discoms for eight Union territories for an enterprise value of around $700 million. Unlike the discoms run by state governments, discoms for the Union territories are administered by the Centre.
