Power Grid to acquire IEDCL’s stake in CPTCL
Power Grid Corporation of India (Power Grid) has received board approvals to acquire 77.30 lakh shares held by IL&FS Energy Development Company (IEDCL) in Cross Border Power Transmission Company (CPTCL).
IEDCL holds a 38% stake in CPTCL (totalling to 1.85 crore shares), while the remaining is held by joint venture partners Powergrid (26%), Satluj Jal Vidyut Nigam (26%) and Nepal Electricity Authority (10%).This acquisition of over 77.30 lakh shares, approved by the Power Grid’s board, amounts to divestment of nearly 43% stake (of the 38%) held by IEDCL in CPTCL.
