POWER

Kalpataru Power Transmission Ltd, JV partner complete 74 pc equity stake sale in JKTPL

Kalpataru Power Transmission Ltd (KPTL) on Monday said the firm and its joint venture partner have completed 74 per cent equity stake sale in Jhajjar KT Transco Pvt Ltd (JKTPL) to IndiGrid.

“We are pleased to inform you that the Parties have today completed the sale of first closing sale shares, which represents about 74 per cent of the total equity shares of the JKTPL after obtaining the requisite regulatory and other approvals and compliance with condition precedents,” according to a BSE filing.

KPTL has completed sale of about 37.78 per cent of equity shares (which includes 1.32 per cent equity shares held by KVPL and acquired by the Company), the filing added.

Earlier in May this year, KPTL had announced that it would sell the joint venture at an enterprise value of Rs 310 crore.

Source
ET Energy World
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