Power Grid to acquire 74% stake in Jaypee Powergrid Ltd
Date
February 27, 2021
Type
M&A Transactions
Subtype
Transaction launched
Countries
India
Subsectors
Power Transmission
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Power Grid Corporation has announced to acquire 74 % stake in Jaypee Powergrid Ltd (JPL) from its joint venture partner Jaiprakash Power Ventures Ltd.
Jaypee Powergrid Ltd (JPL) is an incorporated company implemented for power transmission lines for Karcham-Wangtoo HEP (1,000 MW).
Power Grid and Jaiprakash Power hold 26 percent and 74 percent stakes, respectively in JPL. After the acquisition of 74% stake in JPL, power Grid will become the full owner of JPL.
