L&T to promote entire stake in a hydel energy assignment to Renew Power by admin- Wednesday, August 11th, 2021 03:59:27 PM
Larsen & Toubro introduced the divestment of a hundred% stake inside the 3 x 33 MW (ninety nine MW) run of the river hydroelectric strength plant owned with the aid of its subsidiary L&T Uttaranchal Hydropower Ltd (LTUHPL) to Renew Power Services Pvt Ltd, a completely owned subsidiary of Renew Power Private Limited. This is in step with the declared L&T awareness of divesting non-middle belongings and improving shareholder value.
The transaction is issue to of entirety of normal closing conditions and ultimate is predicted to take region before September 30, 2021. The sale attention is Rs. 985 crore.