Eminent Electricity Distribution Ltd, a subsidiary of CESC Ltd, will acquire a 100% stake in Chandigarh’s power distribution company for ₹871 crore.
The company received a Letter of Intent (LOI), and the deal is expected to finalize within 30 days. CESC posted strong Q2 results with an 8% revenue growth to ₹4,700 crore and a 38.7% surge in EBITDA to ₹896 crore, supported by regulatory income rising 2.6x to ₹689 crore. Shares of CESC closed at ₹173.05, gaining 1.2%.