Shares of CG Power and Industrial Solutions on Tuesday climbed five per cent after private equity giant KKR India picked up nearly 10 per cent stake in the company for over Rs 89 crore.
The scrip settled with a gain of 4.95 per cent to touch its upper circuit limit at Rs 15.69 on the BSE.
On the NSE, the stock jumped 4.68 per cent to close at Rs 15.65, its highest trading permissible limit of the day.
KKR India on Monday picked up nearly 10 per cent stake in CG Power and Industrial Solutions by enforcing pledge on credit facilities extended to a promoter firm of the crisis-hit company.
As per the bulk deal data on the NSE, KKR India Debt Opportunities Fund II and KKR India Financial Services Ltd acquired a total number of over 6.26 crore shares or around 10 per cent stake in CG Power.
The scrips were bought at an average price of Rs 14.25 apiece, amounting to a total of Rs 89.31 crore.
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