{"id":289175,"date":"2019-08-28T07:10:48","date_gmt":"2019-08-28T07:10:48","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=289175"},"modified":"2019-08-28T07:10:48","modified_gmt":"2019-08-28T07:10:48","slug":"cg-power-to-monetize-non-core-assets-raise-fresh-equity","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/cg-power-to-monetize-non-core-assets-raise-fresh-equity\/","title":{"rendered":"CG Power to monetize non-core assets, raise fresh equity"},"content":{"rendered":"<p>The board of Gautam Thapar-promoted CG Power and Industrial Solutions Ltd on Tuesday said it was considering selling non-core assets and exploring various fund-raising avenues to deleverage the company and optimize its operations, the company said in a filing to stock exchanges.<\/p>\n<p>CG Power\u2019s stock crashed 20%, the maximum permissible daily limit for the stock, on 20 August, after its board disclosed \u201csuspect\u201d transactions that led to significant understatement of the company\u2019s liabilities and advances to related and unrelated parties. CG Power\u2019s stock has crashed 80% since January to \u20b99.05 apiece on Tuesday.<\/p>\n<p>The company is now controlled by several lenders, who had invoked the pledged shareholding of promoters earlier this year. As on 30 June, Thapar\u2019s Avantha Group held a negligible stake in the company, while private sector lender Yes Bank had a 12.79% stake. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The board of Gautam Thapar-promoted CG Power and Industrial Solutions Ltd on Tuesday said it was considering selling non-core assets and exploring various fund-raising avenues to deleverage the company and optimize its operations, the company said in a filing to stock exchanges. CG Power\u2019s stock crashed 20%, the maximum permissible daily limit for the stock, on 20 August, after its board disclosed \u201csuspect\u201d transactions that led to significant understatement of the company\u2019s liabilities and advances to related and unrelated parties. CG Power\u2019s stock has crashed 80% since January to \u20b99.05 apiece on Tuesday. The company is now controlled by several [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[141,130,236],"tags":[],"class_list":["post-289175","post","type-post","status-publish","format-standard","hentry","category-hindustantimes","category-newspapers","category-power-hindustantimes"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/289175","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=289175"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/289175\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=289175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=289175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=289175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}