U.S.-based investment firm KKR and sovereign wealth funds of Qatar and Abu Dhabi have shown interest in investing in Indian power projects developer Reliance Power Ltd., a subsidiary of Reliance Group.
Reliance Power’s promoters intend to divest part of their direct holdings to secure 2,500 crore rupees ($351 million) from the stake sale.
The promoters aim to offload 18 to 19 percent of their 30 percent direct holding in Reliance Power Ltd.
Overall, promoters will retain 51 percent of direct and indirect shareholding after the divestment. Reliance Power has appointed U.S. financial services firm JPMorgan as the banker for the proposed deal.