Crompton Greaves has said Avantha Power & Infrastructure Ltd (APIL), in which it holds an equity investment of about 23.14 per cent, has signed a memorandum of understanding with Adani Power for 100 per cent sale of APIL's Korba West Power Company Ltd (KWPCL).
KWPCL, a special purpose vehicle of APIL, is commissioning a coal-based thermal power plant of 600 MW.
In a communication to the stock exchange, Crompton said KWPCL is valued at over Rs 4,200 crore.
Ballarpur Industries has also informed the exchanges that the company and its step-down subsidiary, Bilt Graphic Paper Products Ltd, are equity shareholders of APIL and that KWPCL is a subsidiary of APIL.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.