iifl-logo-icon 1

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Power Grid Ups CPTCL Stake to 42% with ₹14.73 Crore IL&FS Acquisition

20 Jan 2025 , 11:35 AM

Power Grid Corporation of India Ltd, which is a government-owned enterprise said on Friday, January 17 that it had acquired 77,30,225 equity shares of IL&FS Energy Development Company Ltd (IEDCL) in its joint venture, Cross Border Power Transmission Company Ltd (CPTCL), at ₹14.73 crore. POWERGRID’s stake in CPTCL now stands at 42%.

CPTCL is a joint venture that was established in 2006 between POWERGRID, IEDCL, Satluj Jal Vidyut Nigam Ltd (SJVNL), and Nepal Electricity Authority (NEA).

It operates the Indian portion of the Muzaffarpur-Dhalkebar 400 kV double circuit cross-border transmission line that connects India and Nepal. This is one of the divestment initiatives of IEDCL. The National Company Law Tribunal has directed it as part of the resolution plan.

This divestment was done through the Shareholders’ Agreement that made it possible for POWERGRID, along with other shareholders SJVNL and NEA, to obtain the shares by virtue of the prevailing shareholding proportion. POWERGRID completes the acquisition on 16 December 2024 by paying all the due amounts and by successfully transferring the shares.

Related Tags

  • Power Grid Corporation of India Ltd
  • POWERGRID
  • PowerGrid Corp
  • Powergrid Corporation of India
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Securities Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.