Kalpataru Power to sell 3 transmission projects to CLP India for enterprise value Rs 3,275 crore
Mumbai-based Kalpataru Power Transmission is in pact with CLP India Private to sell its stake in three power transmission assets for an enterprise value of Rs 3,275 crore, the former informed bourses on Wednesday.
As a part of the deal, KPTL will sell three assets- Kalpataru Satpura Transco Private, Alipurduar Transmission and Kohima Mariani Transmission. The deal will help the company pare debt.
“The sale of assets will lead to a significant reduction in KPTL’s consolidated debt and will help focus on strategic diversification within the core business. KPTL will continue to focus on sustainable and profitable growth with the commitment to improve return ratios,” Manish Mohnot, managing director and chief executive officer of KPTL said.
