Power Grid Corporation of India Limited (Powergrid) has completed the acquisition of 7,730,225 equity shares of IL&FS Energy Development Company Limited (IEDCL) in Cross Border Power Transmission Company Limited (CPTCL).
This follows the arrangement under which IEDCL, a shareholder in CPTCL, divested its entire equity stake as per the resolution framework approved by the National Company Law Tribunal. CPTCL is a joint venture company for the implementation of the Indian portion of the 400 kV Muzaffarpur-Dhalkebar Indo-Nepal cross-border transmission line.