Reliance Infrastructure has announced the de-merger of certain power generation and supply businesses in Mumbai, Goa and Andhra Pradesh into a subsidiary for a consideration of Rs.6,282.50 crore. ‘The Board of Directors of the Company at its meeting held on March 16, 2016, has approved a Scheme of Arrangement between Reliance Infrastructure and Reliance Electric Generation and Supply (REGSPL) and their respective shareholders and creditors subject to requisite approvals,’ Reliance Infrastructure said in a stock exchange filing. ‘REGSPL shall pay aggregate lump sum cash consideration of Rs.6,282.50 crore to the company,’ the notice said. The statement said REGSPL will not be listed separately. Mumbai power generation, transmission and distribution division, Goa power station division and windmill division of Reliance Infra will be transferred to REGSPL.
FlashNews:
Vikram Solar Rolls Out First Module at Tamil Nadu MegaâFacility
AIâDriven Governance for Capital Projects
India Needs a Comprehensive Approach to Data Sovereignty and Resilience: AS Kiran Kumar
Why Indiaâs Logistics Costs Will Not Fall Through Infrastructure Alone
PM Modi to Dedicate HPCL Rajasthan Refinery, Indiaâs First Greenfield Integrated Complex
Mumbai Port Unveils âđ50.29 Billion Projects on 154th Foundation Day
RVNL Completes Sitafalmandi-Lallaguda Chord Line, Boosting Hyderabad Rail Connectivity
Tata Power Commissions 100.8 MW Jewali Wind Project in Maharashtra
Skyroot Sets Launch Window for Indiaâs First Private Orbital Rocket
Indiaâs ACME Group Seals Landmark Green Ammonia, Methanol Deals with Japan
Indian Railways Posts 4% Freight Growth in June 2026
India, Japan Join Hands to Build Energy Resilience
Adar Poonawalla Family Office Invests âđ700 Crore in Inox Clean Energy
India-EU Set to Deepen Cooperation on Sustainable Ship Recycling
Saleem Ahmad Takes Additional Charge as CMD of IRCON, Strengthening Synergy with RVNL
Indiaâs WABAG Secures Vienna Order for Donauinsel Water Works Expansion
Tech Cuts Mishandled Bag Rates by 23%, But $6.3 Billion Cost Persists: SITA
SK Sinha Appointed Director Finance at GAIL, Bringing Three Decades of Expertise
NHAI to Empanel IITs for Independent Proof Checking of Bridge Designs
Home » Reliance Infra to de-merge REGSPL for Rs.6,282.50 crore
Reliance Infra to de-merge REGSPL for Rs.6,282.50 crore
Power & New and Renewable Energy
April 1, 2016April 1, 2016
Leave a Reply
You must be logged in to post a comment.