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Gmr Sells Stake In Chhattisgarh Power Plant To Adani Power For Rs 3000 Cr - The Economic Times

by economictimes.indiatimes.com posted 2weeks ago 6 views
NEW DELHI: GMR Infrastructure Ltd on Thursday announced signing of agreement with Adani Power Ltd for sale of entire stake of 47.62% in GMR Chhattisgarh Energy Ltd (GCEL) to Adani Power for an estimated value of Rs 3000 crore. Bankers to the project had opted for change in management of the stressed plant held by GMR Generation Assets Ltd, a wholly owned subsidiary of GMR Infrastructure, an official statement said. Lenders followed a detailed bidding process and selected APL as the final bidder. GCEL has received 100% approvals of all lenders for implementation of the resolution plan, it said.

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