NCLT granted approval for acquisition of IL&FS's stake in OTPC by GAIL

National Company Law Tribunal (NCLT) has granted approval for acquisition of 26% equity stake of M/s Infrastructure Leasing & Financial Services (IL&FS) Group by GAIL (India) Limited in ONGC Tripura Power Company Ltd. (OTPC). The stake is being acquired from IL&FS Group companies namely IL&FS Energy Development Company Ltd (EDCL) and IL&FS Financial Services Ltd (IFIN). The Closing of transaction is yet to take place and actions are being taken by IL&FS and GAIL for the same.

Shares of GAIL (India) Limited was last trading in BSE at Rs. 151.50 as compared to the previous close of Rs. 150.45. The total number of shares traded during the day was 57455 in over 1520 trades.

The stock hit an intraday high of Rs. 152.05 and intraday low of 151.05. The net turnover during the day was Rs. 8700957.00.

Source : Equity Bulls

Keywords

GAILIndiaLimited INE129A01019 GAIL Acquisition ONGCTripuraPowerCompany