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By Jomy Jos Pullokaran Jan 25, 2023 6:54:31 PM IST (Published)
State-owned SJVN's stake in Kholongchhu Hydro Energy was brought by the joint venture partner Druk Green Power Corporation of Bhutan at Rs 354.7 crore. Shares of SJVN ended at Rs 34.50, up by Rs 0.30, or 0.88 percent on the BSE.
State-owned SJVN on Wednesday, January 25, said the company has sold its entire stake in Bhutanese joint venture Kholongchhu Hydro Energy Ltd (KHEL) for Rs 354.7 crore.
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The entire stake of Kholongchhu Hydro Energy Ltd was brought by the joint venture partner Druk Green Power Corporation, Bhutan.
"We inform you that the Company has sold its entire stake in the Bhutanese Joint Venture Company i.e, Kholongchhu Hydro Energy Limited (KHEL) as per the directions received from the Ministry of Power, Government of India," the company said in an exchange filing.
The company was yet to commence its commercial operations. The expected date of completion of the sale is January 24, 2023, SJVN said.
Shimla-based SJVN is a joint venture between the central government and the government of Himachal Pradesh.