Lanco Infratechs plants on sale

Lanco Infratech has plans to raise Rs 20,000 crore by selling power plants with a capacity of 3,000 MW. This move has been carried out just days after selling its electricity generating station in Karnataka for Rs 6,000 crore. The company has appointed investment bankers to help it through the sale. This can be India´s biggest such deal and potential buyers have started due diligence. For Lanco, shedding electricity assets will help it reduce debt, which was at around Rs 38,000 crore before it sealed a deal to sell its coal fired 1,200-MW Udupi Power Corporation to Adani Power.