Jaiprakash Powerto sell 74 per cent stake in joint venture subsidiary to Powergrid

Jaiprakash Power Ventures Ltd (JPVL) has announced plans to sell a 74 per cent stake in Jaypee Powergrid Limited (JPL) to Power Grid Corporation of India (Powergrid).

The sale of JPL, which is a joint venture of Powergridand JPVL, is expected to be complete by March 31, 2021. The board of directors of the company have approved the disinvestment in their meeting held on March 2, 2021. The amount of consideration shall be informed on execution of share purchase agreement.

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