L&T Finance exits CG Power and Industrial Solutions

By: |
August 19, 2020 12:49 PM

L&T Finance has "sold (in open market) 6.26 crore shares of CG Power and Industrial Solutions Ltd, constituting 9.99 per cent of the paid up share capital of?CG Power and Industrial Solutions Ltd," a regulatory filing said.

L&T Finance, CG Power and Industrial Solutions,Shares of CG Power, bse, L&T Finance Ltd sharesFollowing the said transaction, L&T Finance does not hold any equity in the CG Power and Industrial Solutions.

L&T Finance Ltd has divested its entire equity stake of 9.99 per cent in CG Power and Industrial Solutions through open market transactions. L&T Finance has “sold (in open market) 6.26 crore shares of CG Power and Industrial Solutions Ltd, constituting 9.99 per cent of the paid up share capital of?CG Power and Industrial Solutions Ltd,” a regulatory filing said.

The said 6.26 crore equity shares have been sold in various tranches last being on August 17, the filing added.

Following the said transaction, L&T Finance does not hold any equity in the CG Power and Industrial Solutions.

The value of the stake sale was not disclosed. Shares of CG Power were trading 4.98 per cent higher at Rs 15.39 per share on BSE. There is no change in the equity share capital of the CG Power and Industrial Solutions after this stake sale by L&T Finance.CG Power and Industrial Solutions equity share capital stands at 62,67,46,142 shares with face value of Rs two each, as per the filing.

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