Eminent Electricity Distribution Limited (EEDL), a wholly-owned subsidiary of CESC Limited, has signed a share purchase agreement (SPA) with Chandigarh Power Distribution Limited (CPDL) for the acquisition of 100 per cent equity in a distribution company for a cash consideration of Rs 8.71 billion.
CPDL is engaged in power distribution projects, with a focus on expanding its distribution business and retail supply of electricity. The acquisition follows the notification of the Chandigarh Electricity Reforms Transfer Scheme, 2025, under which the assets, liabilities, and personnel of the Electricity Wing of the Engineering Department, Chandigarh, will be transferred to CPDL with effect from February 1, 2025.