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Essel Utilities Distribution Company to invest in Spanco's subsidiary

capital market | Mumbai | February 15, 2014 01:38 IST

Essel Utilities Distribution Company to invest in Spanco's subsidiary

Spanco has announced that the Essel Utilities Distribution Company has entered into a joint venture with Spanco Nagpur Discom, a step down subsidiary of the company by entering in to a share subscription cum shareholders' agreement (SSSA) with intention to subscribe equity shares of Spanco Nagpur Discom on preferential basis and by virtue of this, Spanco Nagpur Discom will cease to be a step down subsidiary of the company upon allotment of the shares.

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