Deepak Nitrite Acquires Narmada Thermal Power for Rs 61.65 Crore
By Rediff Money Desk, New Delhi May 31, 2024 19:59
Deepak Nitrite's subsidiary, Deepak Chem Tech Ltd, has acquired a 100% stake in Narmada Thermal Power Private Ltd for Rs 61.65 crore. The acquisition is expected to be completed by June 30.
![Deepak Nitrite Acquires Narmada Thermal Power for Rs 61.65 Crore](https://im.rediff.com/money/2019/jan/18power.jpg)
New Delhi, May 31 (PTI) Deepak Nitrite on Friday said its arm will acquire a 100 per cent stake in Narmada Thermal Power Private Ltd for a cash consideration of Rs 61.65 crore.
Its wholly-owned subsidiary "Deepak Chem Tech Ltd has entered into a share purchase agreement with shareholders of Narmada Thermal Power Private Ltd (NTPPL) to acquire 100 per cent paid up equity share capital of NTPPL for around Rs 61,65,00,000," Deepak Nitrite said in an exchange filing.
Deepak Nitrite said the acquisition is expected to be completed by June 30.
NTPPL is not carrying any business at present. It has industrial land of around 125 acres in Bharuch, Gujarat.
Its wholly-owned subsidiary "Deepak Chem Tech Ltd has entered into a share purchase agreement with shareholders of Narmada Thermal Power Private Ltd (NTPPL) to acquire 100 per cent paid up equity share capital of NTPPL for around Rs 61,65,00,000," Deepak Nitrite said in an exchange filing.
Deepak Nitrite said the acquisition is expected to be completed by June 30.
NTPPL is not carrying any business at present. It has industrial land of around 125 acres in Bharuch, Gujarat.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 226206286
- IFL Enterprises
- 1.30 (+ 4.84)
- 81461564
- Vodafone Idea L
- 16.79 (+ 0.66)
- 67447398
- NCL Research
- 0.95 ( -4.04)
- 31996628
- Franklin Industries
- 3.73 (+ 3.32)
- 21511209
MORE NEWS
![Navi Mumbai...](https://im.rediff.com/80-80/money/2021/jun/10navi-mumbai-airport7.jpg)
Navi Mumbai Airport ILS Signal Testing Begins
The Airports Authority of India (AAI) has begun ILS signal testing at the...
![Air India VRS for...](https://im.rediff.com/80-80/money/2020/sep/09tata-vistara-3.jpg)
Air India VRS for Non-Flying Staff Ahead of...
Air India has announced a voluntary retirement scheme (VRS) and voluntary separation...
Fisher Groups Oppose WTO Fisheries Subsidy Talks
Small-scale fisher groups from India, Indonesia, and Bangladesh demand WTO keep...