CG Power and Industrial Solutions informed the exchanges on Friday that it has received an offer for acquisition of the company’s power business in the US. The board has approved sale of CG Power Systems USA Inc (PSUS) and has consituted a committee to consider the offer and decide on the terms and conditions of acceptance of offer. The company has requisite shareholder approval for the divestment. The board has mandated the committee to complete the process by June 30. The objective of the sale is debt reduction and focussing on core operations, the company said in the statement. Shares of CG Power gained 0.56 per cent at ₹93.35 on the NSE.

Cerebra Integrated Technologies has raised ₹47.6 crore from Kuber Global Fund, a Mauritius-based entity. The company has issued 1.19 crore shares at ₹40 a share to Kuber Fund, it said in a notification to the exchanges. Post allotment, Kuber Global Fund will hold 9.47 per cent stake in Cerebra Integrated. Shares of the company closed at ₹41.25, down 3.73 per cent on the NSE.

Jaiprakash Power Ventures on Friday announced commencement of commercial operations of the third unit of its Bara super critical thermal power project, implemented by Prayagraj Power Generation Company, a material unlisted subsidiary of the company. The third unit of 660 MW of the project — Bara Super Critical Thermal Power Project — has commenced commercial operations from May 26, the company said in a notice to the exchanges. With this, 1980 MW BSTPP of Prayagraj Power stands fully commenced, JPVL said in a filing to the BSE. Shares of JP Ventures jumped 4.7 per cent at ₹4.45 on the NSE.

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