NCC Infrastructure Holdings to sell stake held in Sembcorp Gayatri Power
NCC announced that it subsidiary NCC Infrastructure Holdings has entered into share sale agreement with Sembcorp Utilities for sale of the stake held in Sembcorp Gayatri Power (formerly NCC Power Projects) which is implementing the 1320 MW coal fired power project near Krishnapatnam, Nellore, Andhra Pradesh. The transaction involves sale of 21,60,94,909 equity shares of Rs 10 each held by NCCIHL in SGPL to SCU for a gross consideration of Rs 301.26 crore. NCC are the EPC contractors for the power project being implemented by SGPL. After adjustment of the additional mobilisation advance received from SGPL for execution of the project, the Company will be receiving net amount of Rs 77.04 crore.Powered by Capital Market - Live News
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