PGCIL to acquire 74% stake of JPVL in JPPGL for Rs 351 cr

NEW DELHI: State-run (PGCIL) stated it has signed a share buy settlement with to accumulate 74 per cent stake in Jaypee Powergrid Ltd (JPPGL) for Rs 351.64 crore.

On completion of the transaction, JPL will change into a wholly-owned subsidiary of PGCIL, a regulatory submitting stated.

PGCIL will buy 74 per cent stake of Jaiprakash Energy Ventures in JPL at an mixture consideration of Rs 351,64,80,000, the submitting said.

JPL-JV has developed a 214 km lengthy EHV energy transmission challenge to evacuate energy from Karcham-Wangtoo challenge in Himachal Pradesh.

The facility transmitted is supposed for distribution and consumption in states of Himachal Pradesh, Haryana, Punjab, Uttar Pradesh and Rajasthan.

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