(ET)
Moving ahead with its asset monetisation process IL&FS has invited expressions of interest (EoI) to divest the 26 per cent stake the crisis-hit company holds through IFIN and IEDCL in OTPC. IL&FS has invited Expressions of Interest for acquisition of 26 per cent of the issued and outstanding shares of OTPC owned by IFIN and IEDCL. Through IEDCL, IL&FS holds 12.03 per cent and through IFIN, the group holds 13.97 per cent.
The other shareholders of OTPC are state-run ONGC, with 50 per cent stake, India Infrastructure Fund-II with 23.5 per cent, managed by Global Infrastructure Partners and the Government of Tripura holding 0.5 per cent stake. ONGC Tripura Power Company (OTPC) operates a fully operational natural gas based 726.6 MW power plant located in Palatana, Tripura, supplying power to the energy deficit region of north east India. In addition to the benefit of availability of local gas wells for drawing sufficient gas, OTPC also has a load-center advantage, with access to the energy deficit north-eastern region of India as well as Bangladesh.
