CESC arm Eminent to acquire 100% stake in Chandigarh power distributor for ₹871 crore

CESC arm Eminent to acquire 100% stake in Chandigarh power distributor for ₹871 crore

Company update

Sub.: 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