Earlier today, the boards of AGEL, ATL and AEL met and approved the transaction. The investment is subject to shareholder and regulatory approvals and shall comply with SEBI regulations.
IHC will invest Rs 3,850 crore in AGEL, Rs 3,850 crore in ATL and Rs 7,700 crore in AEL, in compliance with SEBI regulations. The transaction is expected to be completed in a month, after all necessary approvals are obtained. The capital will be utilized for pursuing the growth of the respective businesses, further strengthening of the balance sheet and for general corporate purposes.
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