CESC Acquires Majority Stake in Purvah Green Power for Rs 205 Crore

Power company CESC Ltd has acquired a 63.91% equity stake in Purvah Green Power for Rs 205 crore. The deal makes Purvah Green Power a direct subsidiary of CESC. The acquisition was completed by subscribing to 20.5 crore equity shares at Rs 10 each.

CESC Ltd, a major player in the power industry, announced on Monday the acquisition of a 63.91% equity stake in Purvah Green Power for an investment of Rs 205 crore.

Following the acquisition, Purvah Green Power Private Limited will now operate as a direct subsidiary of CESC, according to the company's regulatory filings.

The acquisition involved subscribing to 20.5 crore equity shares at Rs 10 each, totaling Rs 205 crore, further solidifying CESC's stake in the power generation, transmission, and distribution sectors.

(With inputs from agencies.)