NCC Infrastructure Holdings Ltd, an arm of infra firm NCC Ltd has entered into an agreement with Sembcorp Utilities Pte Ltd for sale of portion of its stake held in Semcorp Gayatri Power Ltd for Rs 320 crore.

NCC Ltd has said in a BSE filing that “As part of the strategic initiatives to divest the stake held in SPVs in which it has invested, NCC Infrastructure Holdings Ltd (NCCIHL) has entered into a share sale agreement with Sembcorp Utilities Pte Ltd (SCU) for sale of stake in Sembcorp Gayatri Power Ltd.”

As per the statement, the present transaction involves 25.68 crore equity share of Rs 10 each held by NCCIHL in SGPL to SCU for a gross consideration of Rs 320 crore.

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