"This is to inform that the company has sold its investment 26,500 equity shares held in PNC Power Private Ltd ('PNC Power') equivalent to 76.50 per cent of the paid up capital of the subsidiary company," PNC Infratech said in BSE statement.
"Since the said subsidiary could not have any business activity over a good period of more than 4 years. Therefore, the Company is desirous of exiting its investment in equity shares of the subsidiary," it added.
According to the statement, the company has sold its equity to Aniket Tie-up Pvt Ltd for a consideration of Rs 15,10,500.
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