Reliance Infrastructure (R-Infra) said on Monday that it has, through share acquisition, converted, into subsidiaries, its two earlier associate companies BSES Yamuna Power Ltd (BYPL) and BSES Rajdhani Power Ltd (BRPL) that supply power to major parts of Delhi.
The two distribution companies (discoms) - BRPL and BYPL- "were previously associates of the Company," BSES said in a stock exchange filing disclosing the share acquisitions.
"Through the acquisition, the target companies have become subsidiaries of the company thereby strengthening the control of the Company over the target companies," it said.
"In both the companies the shareholding has increased from 28.82 per cent to 51 per cent through the acquisition," it added.
R-Infra said that while BRPL had a turnover of Rs 9,234.09 crore in 2015-16, BYPL had a turnover of Rs 5126.88 crore for during the same period.
Reliance Infrastructure also said it has similarly made subsidiaries of associate toll road companies SU Toll Road Pvt Ltd, TD Toll Road Pvt Ltd. and TK Toll Road Pvt Ltd.
--IANS
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