PGCIL to buy IL&FS Energy Development Company’s stake in CPTCL

Power Grid Corporation of India Limited (PGCIL) will purchase IL&FS Energy Development Company Limited’s (IEDCL) equity shareholding in Cross Border Power Transmission Company Limited (CPTCL).

According to a regulatory filing, the company’s board has cleared the proposal for purchase of 7,730,225 equities of IEDCL in CPTCL. Currently, PGCIL owns 26 per cent stake in CPTCL while 38 per cent shareholding is with IEDCL. Besides, SJVN Limited and Nepal Electricity Authority have 26 per cent and 10 per cent stakes, respectively.