RINFRARemote Infrastructure
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RInfra, incorporated in 1929, utility company, along with its wholly owned subsidiary company, owns and operates five power stations with aggregate generating capacity of 941mw and distributes more than 25 billion units of electricity to over 6.4m consumers in Mumbai and Delhi.
RInfra will buy 18- per cent stake from promoter Group led by Nikhil Gandhi at ` 63 per share aggregating to ` 819 crore and make an open offer for an additional 26- per cent shares at ` 66 apiece totalling ` 1,263.3 crore.
The order last June 24 had dismissed the petition filed by MMRDA challenging the fare hike by RInfra on the opening fares of the metro inaugurated on June 8 2014.
This prestigious award was conferred to RInfra by a panel of eminent Jury members consisting of P.
RInfra have been a pioneer in implementing latest technologies in network operation and maintenance, fault identification and database management.
The acquisition of RInfra's distribution business, which has about 3 million retail customers, will diversify ATL's counterparty exposure.
However, along with RInfra Chairman Anil Ambani and his wife Tina, Chavan waved the green flag to begin operations of the metro that missed 10 deadlines from July 10 to May 2014 and took nearly eight years to complete.
This service will only be available to suburban Mumbai consumers, who are on RInfra's distribution network and are using 'My Account' section of RInfra's website, for their electricity related transactions.
Mumbai: Anil Ambani-led Reliance Infrastructure (RInfra) on Tuesday said it has filed an application before state electricity regulator MERC for approval to sell its Mumbai power business to Adani Transmission (ATL).
" There are currently no plans by any of our group companies, namely RCap, RCom, RInfra or RPower, to make any fresh issue of capital." The company will also move for shareholders' approval to raise funds from institutional investors at the AGMs.
He further added that, "On-time commissioning of transmission lines have been possible because of RInfra's technological strength and pool of skilled manpower, having inherent strengths in executing larger projects.