Indias largest integrated power company Tata Power has sold its stake in two group companies to cut its mounting debt burden. The company has said its board has approved the sale of its shares in Tata Communications and Panatone Finvest to Tata Sons and its affiliates. The estimated realisation will be about Rs. 2150 crores and is subject to shareholders approval, said an official announcement. The company has cross-holdings at the group level. It holds stakes in seven group companies, including Nelco, Tata Communications, and Voltas, besides an unlisted Tata Teleservices. Panatone Finvest holds 30.1% of Tata Communications. The move is a part of the companys plan to monetize its non-core assets and improve balance sheet to set the stage for the next phase of growth, stated the company. As of the second quarter of FY 2018, Tata Power had a consolidated debt burden of Rs 48,982 crore, mainly accrued from huge investments made into a bleeding 4150 megawatt Mundra ultra-mega power project and a Rs 10,000 crore acquisition of Welspuns renewable energy portfolio about two years ago.