CESC’s subsidiary emerges highest bidder for Chandigarh power distribution business

Eminent Electricity Distribution Limited, a subsidiary of CESC Limited, has emerged as the highest bidder to take over the Chandigarh Electricity Department’s power distribution business for Rs 8.71 billion. The company emerged a winner from among six competitors. Torrent Power, NTPC Limited and ReNew Power Private Limited had quoted Rs 6.06 billion, Rs 5.63 billion and Rs 5.51 billion, respectively, while the Adani group, Tata Power Limited and Sterlite Power placed financial bids of Rs 4.71 billion, Rs 4.26 billion and Rs 2.01 billion respectively.