Gautam Thapar has put Crompton GreavesBSE 1.94 % up for sale.Part of his family's heritage for as long as India has been independent, the power transmission and distribution company is the biggest unit of Thapar's $4-billion Avantha Group. Goldman Sachs has been informally tasked with finding a buyer.
Thapar wants to sell his controlling 42.7% stake to an overseas company seeking to establish itself in the Indian power transmission and distribution sector, said one of the persons.The promoters expect the company to be valued at $3 billion (Rs 18,000 crore) against the current market valuation of aboutRs 9,500 crore. There seems to be keen interest from various global players.
Thapar wants to sell his controlling 42.7% stake to an overseas company seeking to establish itself in the Indian power transmission and distribution sector, said one of the persons.The promoters expect the company to be valued at $3 billion (Rs 18,000 crore) against the current market valuation of aboutRs 9,500 crore. There seems to be keen interest from various global players.