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Reliance Infrastructure removes KPMG from BSES stake sale process

KPMG's exit from the mandate means the entire process will now start afresh, led by RInfra itself

bses, power, transmission, electricity
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Several firms such as Tata, Adani, and CESC were looking to bid for BSES Rajdhani and BSES Yamuna, but backed out citing high valuation

Dev Chatterjee Mumbai
Reliance Infrastructure (RInfra) has removed KPMG from the sale mandate of its 51 per cent stake in two electricity distribution companies (in New Delhi), citing “conflict of interest”.

KPMG was tasked to find a buyer for the two firms, but failed to get good offers from prospective suitors. 

Several entities such as Tata, Adani, and CESC were planning to bid for BSES Rajdhani and BSES Yamuna, but backed out citing the high valuation sought by RInfra.

State-owned NTPC wrote a letter to the Delhi electricity regulator, saying it was ready to bid for the two units provided the entire bidding

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First Published: Jun 01 2020 | 10:14 PM IST

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