Jharkhand SEB buys Reliance Power stake in Tilaiya UMPP for Rs 1.13 bn

Reliance Power has divested its entire holding in Jharkhand Integrated Power, set up to develop Tilaiya UMPP, to Jharkhand Urja Vikas Nigam Ltd for Rs 1.13 billion.

The Anil Ambani led RPower, in a regulatory filing, said: "The company has transferred its entire holding of 1,49,900 equity shares of Rs 10 each, aggregating to Rs 1,499,000 held in Jharkhand Integrated Power Ltd, a special purpose vehicle (SPV) created for development of Tilaiya UMPP, to Jharkhand Urja Vikas Nigam Ltd, the lead procurer, acting on behalf of procurers of Tilaiya UMPP."

Consideration received from this sale is Rs 1.13 billion, it added.

Shares of Reliance Power were trading 1.95 per cent up at Rs 34 apiece on BSE.


(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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