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Power Grid gets nod to acquire 74% stake in Jaypee Powergrid

13 Feb 2021 Evaluate

Power Grid Corporation of India’s board has approved a proposal to acquire 74 percent stake of the joint venture partner in Jaypee Powergrid (JPL). JPL is a joint venture between Power Grid and Jaiprakash Power Ventures.

Post acquisition of the 74 percent stake, JPL would become a wholly-owned subsidiary of Power Grid. The acquisition would be completed within the current fiscal year. The proposal for the acquisition was approved by the board of Power Grid in a meeting on February 11, 2021.

Power Grid Corporation of India is an Indian state-owned electric utilities company headquartered in Gurgaon, India.

Peers
Company Name CMP
NTPC 309.30
Tata Power 335.50
Adani Power 188.00
Power Grid Corpn. 245.40
Adani Energy Solut. 1252.95
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