Kalpataru Power Transmission signs deal to sell its stake in three subsidiaries

Kalpataru Power Transmission has entered into definitive agreements with CLP India to sell its stake in three subsidiaries of the Company namely Kalpataru Satpura Transco ("KSTPL"), Alipurduar Transmission ("ATL") and Kohima Mariani Transmission ("KMTL") for an estimated enterprise value of Rs 3275 crore.

KSTPL and ATL are wholly owned subsidiaries of the Company. The Company's equity holding in KMTL is 74% and balance 26% equity is hold by Techno Electric & Engineering Company.

As a part of this deal, the transaction for ATL and KMTL will be effective post Commercial Operation Date (COD) and fulfilment of certain conditions. The estimated amount of debt at the SPVs levels would be approximately Rs. 2,000 Crores at the time of COD.

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