NCC Inks Pact To Sell Rs 301-Crore Stake In Sembcorp Gayatri Power


New Delhi: NCC Infrastructure Holdings, a subsidiary of NCC Ltd, has entered into a share sale agreement with Sembcorp Utilities Pte Ltd for sale of a part of its stake in Sembcorp Gayatri Power Ltd for Rs 301.26 crore.

“The present transaction involves sale of 21,60,94,909 shares of Rs 10 each held by NCC Infrastructure Holdings for gross consideration of Rs 301.26 crore (including interest),” NCC said in a filing to the BSE.

It also said that after adjustment of the additional mobilisation advance received from SGPL for execution of the project, the company will be receiving net amount of Rs 77.04 crore.

Sembcorp Gayatri Power (SGPL) is implementing the 1,320 MW coal-fired power project near Krishnapatnam, Nellore in Andhra Pradesh.

NCC is the engineering, procurement and construction (EPC) contractor for the power project being implemented by the SGPL.