CESC Ltd announced on Monday that it has acquired a 63.91% stake in Purvah Green Power for ₹205 crore. Following this acquisition, Purvah Green Power Private Limited will become a direct subsidiary of CESC.
In a regulatory filing, CESC detailed that it purchased 20,50,00,000 equity shares of Purvah Green Power, each valued at ₹10, totaling an investment of ₹205 crore. Previously, Purvah was a wholly-owned subsidiary of Crescent Power Limited, which itself is a subsidiary of CESC.
CESC operates in the generation, transmission, and distribution of electrical power.
