Latest News | Kalpataru Sells Additional 25 Pc Stake in Kohima-Mariani Transmission

New Delhi, Feb 24 (PTI) Kalpataru Power Transmission on Friday said that it has sold an additional 25 per cent stake in Kohima-Mariani Transmission Ltd (KMTL) to Apraava Energy.

"Company has successfully completed the sale and transfer of an additional 25 per cent stake in KMTL held by the company to Apraava," Kalpataru Power Transmission said in a BSE filing.

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Post such sale, it stated that the company has now transferred an aggregate of 48 per cent of the total equity shares held by it in the KMTL, with an agreement to sell balance 26 per cent to Apraava, after obtaining requisite regulatory and other approvals and in a manner consistent with transmission service agreement.

The company and Techno Electric and Engineering Company Ltd (Techno, a joint-venture partner) had an agreement with CLP India Private Ltd (now known as Apraava Energy Private Limited) to sell their respective stakes in the KMTL.

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The company held 74 per cent equity stake and Techno held the remaining 26 per cent equity stake in KMTL.

In December 2021, the company intimated the completion of first tranche of disinvestment, representing 49 per cent stake (23 per cent held by the company and 26 per cent held by Techno) in KMTL to Apraava.

(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)