Nava Bharat Ventures’ subsidiary - Nava Bharat (Singapore) (NBS), has entered into a Sale and Purchase Agreement to sell 100% equity stake in Nava Bharat Lao Energy (NBLE - wholly owned subsidiary of NBS) and thereby its 70% equity stake in Namphak Power Company, which has been developing the 150 MW hydro power project in Lao PDR, in two tranches. The board of directors at its meeting held on August 24, 2016 has approved for the same.
First tranche of sale for majority equity stake of NBLE has been concluded by NBS and the second tranche for the balance stake would be concluded subject to certain conditions in due course. The transaction upon consummation, is profitable and following that NBLE and thereby NPCL will cease to be subsidiaries of NBS/ Nava Bharat Ventures.
Nava Bharat Ventures operates in the business verticals of power generation, mining, ferro alloys and agri-business with multi-national operations spread over India, South East Asia and Africa.
| Company Name | CMP |
|---|---|
| Indian Metal & Ferro | 1546.10 |
| Maithan Alloys | 1022.70 |
| Nava | 727.10 |
| Indsil Hydro Power | 41.76 |
| Shyam Century | 5.82 |
| View more.. | |
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