India Grid Trust and Sterlite Power Transmission Ltd decide to discontinue PMS for NER II Transmission Ltd equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
IndiGrid had signed a framework agreement in April 2019 with Sterlite Power for acquisition of NER-II upon commissioning. This transaction is expected to be consummated during fourth quarter of 2020-21, subject to unitholders approval, regulatory approva
IndiGrid to buy NER II Transmission from Sterlite Power for Rs 4,625 cr business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Investment trust IndiGrid on Friday inked an agreement to acquire 100 per cent equity stake in NER II Transmission from Sterlite Power for about Rs 4,625 crore.
IndiGrid to buy 100% stake in NER II from Sterlite Power for Rs 4,625 crore
Synopsis
The indicative value of the acquisition is Rs 4,625 crore and would boost IndiGrid s asset under management (AUM) by 34 per cent to over Rs 20,000 crore (USD 2.8 billion).
Agencies
This project will strengthen the power transmission network in the North Eastern State
Investment trust IndiGrid on Friday inked an agreement to acquire 100 per cent equity stake in NER II Transmission from Sterlite Power for about Rs 4,625 crore.
The completion of acquisition would depend upon receipt of unitholders consent, regulatory and other relevant approvals, it said. India Grid Trust (IndiGrid) signed share purchase agreement on March 5, 2021 for acquisition of 100 per cent shareholding and economic interest, in one or more tranches, in NER II Transmission Ltd from Sterlite Grid 4 Ltd, a company statement said.