Kalpataru Power Transmission (KPTL) and its joint venture partner have completed the sale of a 74 percent equity stake in Jhajjar KT Transco (JKTPL) to IndiGrid at an enterprise value of Rs 310 crore ($42 million).
KPTL has completed sale of about 37.78 percent of equity shares
The company had entered into a definitive agreement with India Grid Trust, an infrastructure investment trust, acting through its trustee (Axis Trustee Services) and investment manager (Sterlite Investment Managers) to sell its stake in JKTPL.
The company held 49.72 percent, Klassik Vinyl Products (KVPL) held 1.32 percent and Techno Electric & Engineering Company held the balance of 48.96 percent equity in JKTPL.
