Expected to be issued in next few weeks
Maharashtra Electricity Regulatory Commission (MERC) on 14 June 2018 concluded its hearing into the proposed 100% stake sale of Reliance Infrastructure's integrated Mumbai power business to Adani Transmission. MERC has reserved its order which is expected to be delivered in the next few weeks.Reliance Infrastructure has already received the approval of Competition Commission of India (CCI) and its share-holders for the deal. Reliance Infrastructure and ATL had signed Definitive Binding Agreement for 100% stake sale of the integrated business of generation, transmission and distribution of power for Mumbai in December 2017.
The total consideration value of the deal is estimated at Rs. 18,800 crore.
Reliance Infrastructure will utilize the proceeds of this transformative transaction entirely to reduce its debt, becoming debt free and up to Rs. 3,000 crore cash surplus.
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