Eminent Electricity Distribution Limited (EEDL), a wholly owned subsidiary of CESC Limited, has signed an SPA with Chandigarh Power Distribution Limited (CPDL) for the acquisition of 100 per cent equity in the distribution company for a cash consideration of Rs 8.71 billion. CPDL is engaged in power distribution projects, with a focus on expanding its distribution business and retail supply of electricity. The acquisition follows the notification of the Chandigarh Electricity Reforms Transfer Scheme, 2025, under which the assets, liabilities and personnel of the Electricity Wing of the Engineering Department, Chandigarh, will be transferred to CPDL, with effect from February 1, 2025.
Ajax Engineering launches Rs 12.69 billion IPO
Ajax Engineering, a concrete equipment manufacturer, has launched its IPO of Rs 12.69 billion. The price band for the issue was Rs 599-Rs 629 per share. The issue comprised an offer for sale (OFS) of […]
NDR InvIT acquires grade-A industrial and warehousing assets for Rs 7.06 billion
NDR InvIT Trust, an InvIT, has acquired Grade A industrial and warehousing assets in Surat, Hyderabad, Bengaluru and Pune, for Rs 7.06 billion. The assets have over 2.1 million square feet of operational space and […]
Centre allocates funds for three rail projects in Jharkhand
The central government has allocated funds worth Rs 11.47 billion for three rail projects in Jharkhand. The first is the redevelopment of Ranchi railway station, which has been allocated Rs 4.44 billion. The second is […]