Pursuant to disclosure dated November 17, 2016 (copy enclosed) under Regulation 30 of the SEBI (LODR) Regulations, 2015, Punj Lloyd has informed about execution of definitive agreements by Punj Lloyd Infrastructure (PLIL), a wholly owned subsidiary of the Company with India Power Green Utility Private (IPGUPL) to co-develop 30 MW of solar assets in Uttarakhand , in respect of three Solar Power Projects, each of 10 MW capacity won by PLIL under the tariff based competitive bidding process in October 2015 to be executed by its Wholly Owned Subsidiaries (WOS) viz. PL Surya Vidyut Limited, PL Sunrays Power and PL Solar Renewable and accordingly PLIL divested 49% of its shareholding in the WOS. Further as per the terms of definitive Agreements IPGUPL has exercised its call option to acquire balance 51% of the shareholding held by PLIL in the above referred WOS. Accordingly PLIL has divested its balance shareholding of 51% in the above referred WOS.
The above information is a part of company’s filings submitted to BSE.
