R Infra Infuses Additional Equity In BSES Rajdhani Power, BSES Yamuna Power (18-Jan-2012)
Reliance Infrastructure, one of India's largest infrastructure companies, has infused Rs 267.05 crore and Rs 232.75 crore to the extent of its shareholding in its two joint venture companies in New Delhi, viz. BSES Yamuna Power (BYPL) and BSES Rajdhani Power (BRPL) respectively, as advance against share application money pending allotment of equity shares. The capital infusion comes as part of Rs 5,100-crore package being worked out by IDBI-led consortium to resolve cash flow issues.
The Delhi government, which holds rest 49% stake in the BSES companies, is also expected to contribute its share of Rs 500 crore. The capital infusion will make sure that equity structure of BYPL and BRPL remains the same since as 2002 when the power distribution was privatized in Delhi.
Reliance Infrastructure is India's largest private sector enterprise in power utility sector and has presence across the value chain of the power business -- generation, transmission, distribution, EPC and trading. It develops projects in all high growth areas in the infrastructure sector, namely roads, highways, metro rails, airports and speciality real estate.
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