Latest News | PGCIL to Acquire 74% Stake of JPVL in Jaypee POWERGRID for Rs 351 Cr
Get latest articles and stories on Latest News at LatestLY. State-run Power Grid Corporation (PGCIL) said it has signed a share purchase agreement with Jaiprakash Power Ventures to acquire 74 per cent stake in Jaypee POWERGRID Ltd (JPL) for Rs 351.64 crore.
New Delhi, Mar 19 (PTI) State-run Power Grid Corporation (PGCIL) said it has signed a share purchase agreement with Jaiprakash Power Ventures to acquire 74 per cent stake in Jaypee POWERGRID Ltd (JPL) for Rs 351.64 crore.
On completion of the transaction, JPL will become a wholly-owned subsidiary of PGCIL, a regulatory filing said.
PGCIL will purchase 74 per cent stake of Jaiprakash Power Ventures in JPL at an aggregate consideration of Rs 351,64,80,000, the filing stated.
JPL-JV has developed a 214 km long EHV power transmission project to evacuate power from Karcham-Wangtoo project in Himachal Pradesh.
The power transmitted is meant for distribution and consumption in states of Himachal Pradesh, Haryana, Punjab, Uttar Pradesh and Rajasthan. PTI KKS
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