RP-Sanjiv Goenka group flagship CESC Ltd has appointed a consultant to explore restructuring opportunities in the company.
According to market sources, the company may club its generation and distribution businesses under two separate arms.
Generation unitsCurrently, CESC has distribution rights in Kolkata and owns part of generation units in West Bengal.
The rest of the generation outfits and distribution franchises are managed by different wholly-owned subsidiaries.
The generation units at Haldia in Bengal and Chandrapur in Maharashtra are two separate outfits, Haldia Energy Ltd and Dhariwal Infrastructure Ltd (both subsidiaries of CESC).
Similarly, the group made foray in distribution franchise business through different companies.
Retail armCESC also owns, Spencer’s Retail Ltd, the retail arm of the group. There were talks of bringing Spencer’s out of its fold.
The exact nature of the restructuring is yet to be announced.
When asked, Sanjiv Goenka, Group Chairman, cited regulatory guidelines and refused to comment or confirm the matter. “We (CESC) are in a silent period,” he said.
The CESC scrip closed at ₹737.80, down by 0.06 per cent, on the BSE, on Tuesday.