Prior to this transaction, Powergrid owned a 26 per cent stake in Jaypee Powergrid Limited
Powergrid Corporation of India has signed a share buy settlement with Jaiprakash Power Ventures for acquisition of 74 per cent stake of JPVL (Jaiprakash Power Ventures Limited) in Jaypee Powergrid Limited (a three way partnership firm of Powergrid and Jaiprakash Power Ventures Limited), at an combination value of Rs 351 crore. Jaypee Power Grid Limited will subsequently change into a wholly-owned subsidiary of Powergrid. at 11:00 am, the shares of Powergrid had been buying and selling decrease by 2.3 per cent at Rs 224.85 on the BSE.
Prior to this transaction, Powergrid owned a 26 per cent stake in Jaypee Powergrid Limited.
The BSE Sensex was buying and selling at 49,442.85, weaker by 410.65 pints or 0.81 per cent and the NSE Nifty was at 14,651, down 92.50 factors or 0.62 factors on the time.
