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Jharkhand SEB buys Reliance Power stake in Tilaiya UMPP for Rs 1.13 bn

Shares of Reliance Power were trading 1.95 per cent up at Rs 34 apiece on BSE

Reliance Power

Press Trust of India  |  New Delhi 

Coal Ministry issues show-cause notice to R-Power over Tilaiya UMPP

has divested its entire holding in Jharkhand Integrated Power, set up to develop Tilaiya UMPP, to Jharkhand Urja Vikas Nigam Ltd for Rs 1.13 billion.

The Anil Ambani led RPower, in a regulatory filing, said: "The company has transferred its entire holding of 1,49,900 equity shares of Rs 10 each, aggregating to Rs 1,499,000 held in Jharkhand Integrated Power Ltd, a special purpose vehicle (SPV) created for development of Tilaiya UMPP, to Jharkhand Urja Vikas Nigam Ltd, the lead procurer, acting on behalf of procurers of Tilaiya UMPP."

Consideration received from this sale is Rs 1.13 billion, it added.

Shares of were trading 1.95 per cent up at Rs 34 apiece on BSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Thu, May 17 2018. 14:16 IST