Latest News | Deepak Nitrite to Acquire Narmada Thermal Power in Rs 61.65 Cr Cash Deal

New Delhi, May 31 (PTI) Deepak Nitrite on Friday said its arm will acquire a 100 per cent stake in Narmada Thermal Power Private Ltd for a cash consideration of Rs 61.65 crore.

Its wholly-owned subsidiary "Deepak Chem Tech Ltd has entered into a share purchase agreement with shareholders of Narmada Thermal Power Private Ltd (NTPPL) to acquire 100 per cent paid up equity share capital of NTPPL for around Rs 61,65,00,000," Deepak Nitrite said in an exchange filing.

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Deepak Nitrite said the acquisition is expected to be completed by June 30.

NTPPL is not carrying any business at present. It has industrial land of around 125 acres in Bharuch, Gujarat.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)