AJR Infra and Tolling has received approval to divest company's stake in its wholly owned material subsidiary -- Sikkim Hydro Power Ventures (SHPVL) by way of sale / transfer of 6,27,35,942 equity shares of Rs 10 each (constituting 100% of the paid-up capital of SHPVL) to Statkraft IH Holding AS, which is engaged in the business of renewable energy, hydro-wind power and solar power projects.
The sale is expected to be completed within a period of 6 months from the date of obtaining of shareholders’ approval. The board of directors at its meeting held on July 20, 2022 has approved the same.
AJR Infra and Tolling (AJRITL) is an infrastructure project development company incorporated by Gammon India Limited, to participate in the development of infrastructure projects on a public private partnership (PPP) basis.
