Kalpataru Power Transmission on Friday said that it has sold an additional 25% stake in Kohima-Mariani Transmission Ltd. to Apraava Energy.
"Company has successfully completed the sale and transfer of an additional 25% stake in Kohima-Mariani Transmission held by the company to Apraava," Kalpataru Power Transmission said in a BSE filing.
Post the sale, it said that the company has now transferred an aggregate of 48% of the total equity shares held by it in the Kohima-Mariani Transmission, with an agreement to sell balance 26% to Apraava, after obtaining requisite regulatory and other approvals and in a manner consistent with transmission service agreement.
The company and Techno Electric and Engineering Company Ltd. (Techno, a joint-venture partner) had an agreement with CLP India Pvt. (now known as Apraava Energy Pvt.) to sell their respective stakes in the Kohima-Mariani Transmission.
The company held 74% equity stake and Techno held the remaining 26% equity stake in Kohima-Mariani Transmission.
In December 2021, the company intimated the completion of first tranche of disinvestment, representing 49% stake (23% held by the company and 26% held by Techno) in Kohima-Mariani Transmission to Apraava.
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