The sale of GMR Energy’s entire stake in GMR Kamalanga Energy Ltd to JSW Energy has been put on hold on account of outbreak of Covid-19, according to a regulatory filing.
In February, JSW Energy had signed a share purchase agreement to acquire 100 per cent of GMR Kamalanga Energy, which owns and operates a 1,050 MW (3×350 MW) thermal power plant in Odisha, for ₹5,321 crore (subject to working capital and other adjustments).
“The transaction has been put on hold due to the outbreak of the pandemic Covid-19 and nationwide lockdown, and will be revisited once the situation normalises,” GMR Infrastructure – the parent company of GMR Energy – said in a filing to BSE on Thursday.
