CESC arm Eminent to acquire 100% stake in Chandigarh power distributor for ₹871 crore
Company updateSub.: Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015
In continuation to our earlier intimation dated August 4, 2021 and pursuant to Regulation 30 of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015, we write to inform that Eminent Electricity
Distribution Limited, a wholly owned subsidiary of CESC Limited has received today a “Letter of Intent” for
acquiring 100% shares in a distribution company responsible for distribution and retail supply of electricity and
having distribution license in the Union Territory of Chandigarh.
The details required to be furnished in compliance with Regulation 30 read with SEBI Circular No.
SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated 13th July, 2023 is enclosed herewith as “Annexure-A
Annexure-A
S. No. Particulars Response
a) Name of the entity awarding the
order(s)/contract(s);
Eminent Electricity Distribution Limited, a
wholly owned subsidiary of CESC Limited.
b) Significant terms and conditions of
order(s)/contract(s) awarded in brief;
Purchase of 100% shares in Distribution
Company responsible for distribution and retail
supply of electricity and having distribution
license in the Union Territory of Chandigarh.
c) Whether order(s) / contract(s) have been awarded
by domestic/ international entity;
Domestic Entity
d) Nature of order(s) / contract(s); Letter of Intent (“LOI”) from Executive
engineer, Electricity “OP” Division No.2,
BBMB Complex, Union on territory of
Chandigarh to Eminent Electricity Distribution
Limited, (a wholly owned subsidiary of CESC
Limited).
e) Time period by which the order(s)/contract(s) is
to be executed;
Within 30 days of issuance of the Letter of
Intent.
f) Broad consideration or size of the
order(s)/contract(s);
Rs. 871 Crore, subject to the terms and
conditions as contained in the LOI
g) Whether the promoter/ promoter group / group
companies have any interest in the entity that
awarded the order(s)/contract(s)? If yes, nature of
interest and details thereof;
Not Applicable
h) Whether the order(s)/contract(s) would fall
within related party transactions? If yes, whether
the same is done at “arm’s length”.
Not Applicable