Reliance Power has sold its entire stake in Jharkhand Integrated Power, set up to develop Tilaiya UMPP, to Jharkhand Urja Vikas Nigam Ltd for Rs.112.64 crore.
In a regulatory filing the company stated, “The company has transferred its entire holding of 1,49,900 equity shares of Rs.10 each, aggregating to Rs.14,99,000 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.”
