KSB Limited to invest in solar power plant SPV

KSB Limited is investing and entering into a Limited Liability Partnership ("LLP") namely Clean Max Circe Power LLP with Clean Max Enviro Energy Solutions Private Limited. The said LLP proposes to establish, operate and maintain a solar power plant in the State of Maharashtra. KSB Limited proposes to hold ownership interest in the LLP as per the requirements of the Electricity Act 2003 and the Electricity Rules, 2005 and to purchase energy generated from the said Project as a captive consumer, according to the mutually agreed terms of the Energy Supply Agreement. Investing and entering into LLP is subject to conclusion and implementation of definitive agreements.

Shares of KSB Ltd was last trading in BSE at Rs.455 as compared to the previous close of Rs. 454.05. The total number of shares traded during the day was 1334 in over 388 trades.

The stock hit an intraday high of Rs. 461.2 and intraday low of 453. The net turnover during the day was Rs. 608438.

Source : Equity Bulls

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