Patel Engineering : Sale or disposal of unit/ division/subsidiary
July 30, 2022 at 10:53 am EDT
Share
CIN: L99999MH1949PLC007039
Date: July 30, 2022
BSE Limited
National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers,
Exchange Plaza,
Dalal Street, Fort,
Bandra Kurla Complex, Bandra (E),
Mumbai - 400 001
Mumbai - 400 051
Scrip Code - 531120
Symbol - PATELENG
Sub: Intimation under Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015
Dear Sir/Madam,
Pursuant to Regulation 30 of the SEBI (Listing Regulation and Disclosure Requirement) Regulations, 2015, please be informed that the Company has executed a Share Purchase Agreement dated 30.07.2022, with inter alia India Grid Trust (the purchaser), for sale of Company's entire shareholding in Raichur Sholapur Transmission Company Private Limited ("RSTCPL"). RSTCPL is an "Associate" of the Company
The proposed sale of shares of RSTCPL to India Grid Trust is subject to applicable regulatory and other approvals and certain conditions, more specifically laid down in the Share Purchase Agreement.
Details of the proposed transaction as required under Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, read with Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015 is contained in Annexure -A.
This is for your information and record.
Thanking you.
Yours faithfully
For Patel Engineering Limited
Shobha
Ranjit
Shetty
Digitally signed by Shobha Ranjit Shetty
Date: 2022.07.30 19:58:01 +05'30'
Shobha Shetty
Company Secretary
Membership No. F10047
REGD. OFFICE:
Patel Estate Road, Jogeshwari (W), Mumbai - 400 102. India
Patel Engineering Limited published this content on 30 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 July 2022 14:52:02 UTC.
Patel Engineering Limited is an India-based company, which is engaged in civil engineering and construction of hydro projects, dams, tunnels, roads, railways. It is also involved in real estate activities with owned or leased property. Its power, dams and tunnel projects include Kiru HEP Project, Jammu and Kashmir (J&K), IRCON T15 in J&K, KRCL Tunnel T-2 in J&K, Arun-3 HEP Project, Nepal, Kundah Package I & II, Tamil Nadu and Parnai H.E. Project, J&K. Its irrigation projects include Sleemanabad Carrier Canal, Madhya Pradesh, Jigaon Lift Irrigation, Maharashtra, Suthaliya Irrigation Project, Madhya Pradesh and Parbati Irrigation Project, Madhya Pradesh. Its urban infrastructure and roads include Shivane to Mhatre bridge, Selapass Road and Tunnel, Up-gradation - Pimpla junction, Amarmahal to Trombay Tunnel, Hindoli - Nainwa Water Supply Project, RVNL Project, PGRW Tunnel. Its subsidiaries include Zeus Minerals Trading Pvt. Ltd., Friends Nirman Pvt. Ltd., and Patel Lands Ltd.