CESC’s wholly owned subsidiary, Eminent Electricity Distribution Ltd. has emerged as highest bidder for acquiring 100% stake in power distribution company for Union Territory of Chandigarh.
Further, the above acquisition for Distribution license is subject to further formalities as prescribed under the tender documents including receipt of letter of intent, as stated by the company in a regulatory filing.
At around 2:11 PM, CESC was trading at Rs765.80 per piece down by Rs22.9 or 2.9% from its previous closing of Rs788.70 per piece on the BSE.