Bajaj Hindusthan to sell 17.51% stake in group’s power firm LPGCL


Bajaj Hindusthan to sell 17.51% stake in group’s power firm LPGCL

Bajaj Hindusthan Sugar plans to sell its entire 17.51 per cent stake in the group firm Lalitpur Power Generation Company Ltd (LPGCL), estimated to be worth Rs 1,100 crore.

The company had invested Rs 770 crore in LPGCL and now needs to divest non-core assets as per the debt restructuring scheme approved by the lenders.

Bajaj Hindusthan Sugar has convened an extraordinary general meeting on August 4 to seek shareholders’ approval for sale of its share in LPGCL to another group firm Bajaj Energy Ltd. Read More

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