New Delhi, Deepak Nitrite on Friday said its arm will acquire 100 per cent stake in Narmada Thermal Power Pvt Ltd for a cash consideration of Rs 61.6 crore.
Its wholly owned subsidiary “Deepak Chem Tech Limited has entered into a Share Purchase Agreement with the shareholders of Narmada Thermal Power Private Limited (NTPPL) to acquire 100 per cent paid-up equity share capital of NTPPL for approximately Rs 61,65,00,000 " Deepak Nitrite said in an exchange filing.
Deepak Nitrite said the acquisition is expected to be completed by June 30.
NTPPL is not doing any business at present. It has about 125 acres of industrial land in Bharuch, Gujarat.
Its wholly owned subsidiary “Deepak Chem Tech Limited has entered into a Share Purchase Agreement with the shareholders of Narmada Thermal Power Private Limited (NTPPL) to acquire 100 per cent paid-up equity share capital of NTPPL for approximately Rs 61,65,00,000 " Deepak Nitrite said in an exchange filing.
Deepak Nitrite said the acquisition is expected to be completed by June 30.
NTPPL is not doing any business at present. It has about 125 acres of industrial land in Bharuch, Gujarat.
