CESC - Expanding Its Distribution Footprint: Motilal Oswal
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Motilal Oswal Report
CESC Ltd. has emerged as the highest bidder for a 100% stake in Chandigarh Distribution Company.
The takeover would be subject to the completion of certain formalities, as per the company.
The receipt of the letter of intent for the same is still pending.
The move is in line with the company’s strategy to grow its presence within the distribution space.
With a healthy balance sheet (net debt/equity: 1.2 times) and strong expertise, CESC is well-placed to capitalise on privatisation opportunities.
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