January 27, 2015 2:44 PM ET

Industrial Conglomerates

Company Overview of Avantha Group

Company Overview

Avantha Group operates in pulp and paper, power transmission and distribution equipment and services, food processing, farm forestry, chemicals, energy, infrastructure, information technology, and information technology-enabled services businesses. It engages in the manufacture of writing and printing papers; management and application of electrical energy; design, manufacture, and marketing of electrical products; cultivation, processing, and marketing of gherkins, jalapenos, pearl onions, capers, pritamin peppers, sweet and sour cherries, and sweet corn; manufacture of bromine and bromine chemicals, phosphoric acid, caustic soda, and chlorine; generation of electric power; and production o...

Thapar House

124, Janpath

New Delhi,  110 001

India

Founded in 1919

Phone:

91 11 2336 8332

Fax:

91 11 2336 8729

Key Executives for Avantha Group

Chairman and Chief Executive Officer
Age: 52
Group Director of Finance and Member of Management Board
Age: 57
Chief Executive Officer of The Global Green Company Limited
Age: 49
President of Consumer Business of Crompton Greaves and Executive Vice-President of Crompton Greaves
Compensation as of Fiscal Year 2014.

Avantha Group Key Developments

Avantha Group Company CG wins USD 26 Million Contract to Reinforce Indonesia’S Grid

Avantha Group Company CG has sealed a prestigious deal with PT PLN (Perusahaan Listrik Negara) Indonesia, for the manufacture and supply of 37 units of 60MVA, 30MVA and 150/20kV Power Transformers. Valued at USD 26 million, CG's power transformers will be installed across PT PLN's transmission network, in 36 different substations in Sumatra, Java, Bali, Kalimantan and the Sulawesi islands of Indonesia. This project is being funded by IBRD World Bank, in collaboration with the Government of Indonesia, for the purpose of strengthening Indonesia's power networks. The order was won under a competitive international public bidding process and represents the first of its kind won by CG Indonesia. The project scope includes the design, manufacturing, factory testing, site installation and testing, and the precommissioning of the transformers over a period of 18 months. CG was selected for this project due to its successful track record in Indonesia, backed by a global recognition of its technical expertise in manufacturing and supplying highvoltage transformers at the best quality to price ratio.

Tata And ICICI In Talks To Acquire Jhabua From Avantha

Avantha Power & Infrastructure Limited (Avantha Power) is in discussions to sell Jhabua Power Ltd. to The Tata Power Company Limited (BSE:500400) and ICICI Venture. "Avantha Power is also in serious discussions with the consortium of Tata Power and ICICI Venture for its second half--Jhabua Power that is implementing 1,260 MW thermal capacity in two phases of 600MW and 660 MW in Madhya Pradesh," said the first person familiar with development told Economic Times (ET). "The deal with Tata Power-ICICI Venture is likely to take a couple of weeks and would also be in the range of about Rs 4,000 crore." ET first reported this on November 4, 2014. Avantha Group spokesperson didn't respond to queries, Economic Times reported. "From the entire proceeds that will accrue from divestment from Korba and Jhabua, Avantha Power will repay about Rs 1,000 crore to the PE fund against its investment of $125 million," said the second person familiar with the development.

Thapar Group Mulls Selling Avantha Power Assets To Reduce Debts

A joint venture between The Tata Power Company Limited (BSE:500400) and ICICI Venture has begun talks to buy out some power assets of Avantha Power & Infrastructure Limited as the cash strapped Thapar Group considers asset sale to reduce its debt. Two people with direct knowledge of the matter said officials from both sides have met to discuss the issue and that the deal is likely to involve the sale of operational power plants. "We had several meetings with the Thapar Group officials for the purchase of the power assets," one of the two persons quoted above said. "It's a good asset but we are yet to sign any term sheet to start due diligence as talks are in early stages," the person added.

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