December 18, 2014 2:23 AM ET

Electric Utilities

Company Overview of Avantha Power & Infrastructure Limited

Company Overview

Avantha Power & Infrastructure Limited produces thermal power. Avantha Power & Infrastructure was formerly known as BILT Power Limited. The company was incorporated in 2005 and is based in India. Avantha Power & Infrastructure Limited operates as a subsidiary of Avantha Group.

Centrum Plaza 2nd Floor

Golf Course Road Sector 53

Gurgaon,  122002

India

Founded in 2005

114 Employees

Phone:

91 12 4439 2000

Fax:

91 12 4437 6496

Key Executives for Avantha Power & Infrastructure Limited

Chief Executive Officer
Chief Financial Officer
Age: 43
General Manager of Operations and Maintenance
Age: 55
Head of Electrical Engineering
Age: 54
Head of Mechanical
Age: 48
Compensation as of Fiscal Year 2014.

Avantha Power & Infrastructure Limited Key Developments

Tata And ICICI In Talks To Acquire Jhabua From Avantha

Avantha Power & Infrastructure Limited (Avantha Power) is in discussions to sell Jhabua Power Ltd. to The Tata Power Company Limited (BSE:500400) and ICICI Venture. "Avantha Power is also in serious discussions with the consortium of Tata Power and ICICI Venture for its second half--Jhabua Power that is implementing 1,260 MW thermal capacity in two phases of 600MW and 660 MW in Madhya Pradesh," said the first person familiar with development told Economic Times (ET). "The deal with Tata Power-ICICI Venture is likely to take a couple of weeks and would also be in the range of about Rs 4,000 crore." ET first reported this on November 4, 2014. Avantha Group spokesperson didn't respond to queries, Economic Times reported. "From the entire proceeds that will accrue from divestment from Korba and Jhabua, Avantha Power will repay about Rs 1,000 crore to the PE fund against its investment of $125 million," said the second person familiar with the development.

Thapar Group Mulls Selling Avantha Power Assets To Reduce Debts

A joint venture between The Tata Power Company Limited (BSE:500400) and ICICI Venture has begun talks to buy out some power assets of Avantha Power & Infrastructure Limited as the cash strapped Thapar Group considers asset sale to reduce its debt. Two people with direct knowledge of the matter said officials from both sides have met to discuss the issue and that the deal is likely to involve the sale of operational power plants. "We had several meetings with the Thapar Group officials for the purchase of the power assets," one of the two persons quoted above said. "It's a good asset but we are yet to sign any term sheet to start due diligence as talks are in early stages," the person added.

Avantha Power To Receive $110 million From Kohlberg- Reports

Kohlberg Kravis Roberts & Co. (NYSE:KKR) will invest $110 million in Avantha Power & Infrastructure Limited taking its economic interest in Avantha Power & Infrastructure Limited to about 55%, The Economic Times reports citing two persons familiar with the development. The proposed money is believed to be invested in the form of convertible instruments that would result in Kohlberg Kravis Roberts & Co. acquiring an economic interest of about 55% or it can be broken into two parts. In the first part, Kohlberg Kravis Roberts & Co. will increase its stake to 49% from the current level of 19% and the balance amount might be invested in the form of callable securities. Both parties declined comment.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
November 23, 2014
Korba West Power Company Ltd.
 

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