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Mutual fund manager appoints legal counsel, says it is considering ways to maximise recovery value
The company announced it will acquire Essel Infra's 205 megawatt (Mw) of solar assets for Rs 1,300 crore.
The sale of solar assets is expected to further reduce promoter debt for the group, which was at Rs 6,776 crore
Industry experts remain skeptical of infra M&A deals
Pips Railways arm IRCON International for project to construct bridges, rail-over bridge (ROB) rail-underbridge (RUB), foot-overbridge (FOB), platform shelters, etc
Global private equity fund Actis and Tata Power were also in the fray along with Greenko to buy the assets of Essel
The company currently owns 160 MW of solar independent power projects in 4 states of India, of which, 110 MW is operational
