Reliance Power Limited (BSE:532939) plan to sell part of their direct holdings to raise INR 25 billion, investment banking sources said. Reliance Power has appointed J P Morgan as the banker for the proposed stake sale, the sources said. The sources said promoters plan to offload 18% to 19% of their 30% direct holding in the company.

When contacted, the company declined to comment. Qatar Investment Authority, Abu Dhabi Investment Authority, The Blackstone Group L.P. (NYSE:BX), TPG Capital, L.P. and KKR & Co. Inc. (NYSE:KKR) are among the major players that are interested in bidding for stake in Reliance Power, the sources said.