Parallel power distribution network: INLD questions financial viability of private firm’s licence bid for Gurugram-Nuh
INLD leader Sampat Singh questioned the financial viability of Eleven Power Private Limited's bid for a parallel electricity distribution licence in Gurugram and Nuh.
Eleven Power proposed capital expenditure of ₹4,717 crore, while state utility DHBVN assessed the actual cost at ₹11,397.95 crore, requiring equity of ₹3,419.33 crore.
Singh said Eleven Power deflated the network cost by over ₹6,600 crore and has a paid-up share capital of ₹1 crore but promises equity of ₹1,415 crore.
Eleven Power's holding company SAS Fininvest LLP has a book value of ₹94.95 crore but a claimed market valuation of ₹4,085 crore, which Singh called a financial mirage.
Eleven Power lacks independent operational experience in electricity distribution and relies on consortium partners who are not petitioners in the matter.
Story angle
Center-left
Mostly straight facts, with a light progressive or opposition-friendly tilt.
About how the story is framed, not whether the facts are true.
Hindustan Times
Center-left
Mixed factuality
