Bajaj Hindusthan Sugar Ltd announces updates on co-generation power business

The Board of Directors of Bajaj Hindusthan Sugar Ltd at its meeting held on December 20, 2016, considered approval of sale and transfer of Co-generation power business of aggregating capacity of 449 MW located at 14 locations to Lalitpur Power Generation Company Limited (LPGCL), a group Company for a lumpsum consideration in cash of approximately Rs. 1800 crore, as a going concern on slump sale basis in accordance with the Business Transfer Agreement to be entered into with LPGCL. Entire amount of Cash consideration is proposed to be utilised by Bajaj Hindusthan Sugar Limited towards advance repayment of its existing term debt. The proposed sale and transfer of Co-Gen power business will be subject to approval of members, lenders and all other statutory / regulatory authorities.

Shares of BAJAJ HINDUSTHAN LTD. was last trading in BSE at Rs.13.64 as compared to the previous close of Rs. 13.37. The total number of shares traded during the day was 1453138 in over 3486 trades.

The stock hit an intraday high of Rs. 14.74 and intraday low of 13.05. The net turnover during the day was Rs. 19707548.

Source : Equity Bulls

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