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CESC’s arm to subscribe 34.5% of FSL’s expanded paid up share capital

25 Oct 2012 Evaluate

CESC’s wholly owned subsidiary - Spen Liq, is entering into an agreement with Firstsource Solutions (FSL) having its registered office at Mumbai to subscribe to 34.5% of FSL’s expanded paid up share capital. The board at its meeting held on October 25, 2012 has taken the note of it.

CESC will be ‘a Person Acting in Concert’ along with Spen Liq which will make a mandatory open offer in terms of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulations, 2011.

Besides, Spen Liq is also executing a separate share purchase agreement with three of FSL’s existing shareholders to purchase, collectively, 15% of FSL’s total expanded share capital from them.

CESC is engaged in power generation and distribution in state of West Bengal. Being part of RPG Group, the company made Calcutta free of load shedding and brought in new power connections, fault-free supply, quick response to local faults, complaint-free billing and swift redressal of customer grievances.

CESC Share Price

178.95 7.45 (4.34%)
20-Apr-2026 12:48 View Price Chart
Peers
Company Name CMP
NTPC 399.70
Tata Power 436.30
Adani Power 204.40
Power Grid Corp 321.60
Torrent Power 1621.75
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