Piramal Enterprises Limited through its structured investment group and Dutch pension fund asset manager APG Asset Management will invest USD 132 million to power Essel Infrastructure’s Solar IPP platform across India.
As part of the transaction, Piramal Enterprises Limited (PEL) and APG Asset Management (APG) will jointly invest (INR 900 Cr) USD 132 million in Essel Green Energy Private Ltd, the solar platform vehicle of Essel Infraprojects Ltd. Essel Green Energy Private Ltd, currently owns 160 MWs of Solar IPP assets in 4 states of India, of which, 110 MW is operational and 50 MW is currently under execution. With this investment, Essel Group will propel its solar power agenda across India. Ernst and Young India was the financial advisor to the Essel Group for the transaction.
Piramal Enterprise was higher by 7% at Rs. 1043. Piramal Enterprises Limited through its structured investment group and Dutch pension fund asset manager APG Asset Management will invest USD 132 million to power Essel Infrastructure’s Solar IPP platform across India.
As part of the transaction, Piramal Enterprises Limited (PEL) and APG Asset Management (APG) will jointly invest (INR 900 Cr) USD 132 million in Essel Green Energy Private Ltd, the solar platform vehicle of Essel Infraprojects Ltd. Essel Green Energy Private Ltd, currently owns 160 MWs of Solar IPP assets in 4 states of India, of which, 110 MW is operational and 50 MW is currently under execution. With this investment, Essel Group will propel its solar power agenda across India. Ernst and Young India was the financial advisor to the Essel Group for the transaction.
The scrip opened at Rs. 985.3 and has touched a high and low of Rs. 1065 and Rs. 985.3 respectively. So far 39475(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 16789.12 crore.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1043 on 20-May-2015 and a 52 week low of Rs. 805 on 18-Sep-2015. Last one week high and low of the scrip stood at Rs. 989.55 and Rs. 960.25 respectively.
The promoters holding in the company stood at 52.76 % while Institutions and Non-Institutions held 30.64 % and 16.6 % respectively.
The stock is currently trading above its 200 DMA.
No comments:
Post a Comment