Kalpataru Projects International Limited (KPIL) has completed the sale of its remaining 26 per cent equity stake in an inter-state transmission scheme “Kohima-Mariani Transmission Limited” (KMTL) to Apraava Energy Private Limited.
KPIL originally held a 74 per cent stake in KMTL, while the remaining 26 per cent was held by Techno Electric & Engineering Company Limited. In July 2019, KPIL entered into an agreement to divest its stake in KMTL. Subsequently, it sold about 48 per cent of its shareholding. The remaining 26 per cent was to be transferred after obtaining the requisite regulatory and other approvals. Techno had also agreed to sell its 26 per cent stake to Apraava in July 2019, and that transaction was completed in December 2021. With the completion of KPIL’s final stake sale, KMTL has become a wholly owned subsidiary of Apraava Energy.