Divestment7 Sept 2026, 06:30 pm
B&B Triplewall Containers to divest 27% stake in Sharvesh Power Projects
AI Summary
B&B Triplewall Containers Ltd announced its Board of Directors has approved the disinvestment of its entire 27% equity stake in Sharvesh Power Projects Private Limited. This decision follows the rescission of the Power Purchase Agreement (PPA) between the two entities, which was the underlying purpose for the initial investment. The company stated that Sharvesh Power Projects did not contribute to its turnover, revenue, income, or net worth in the last financial year. The board meeting was held today from 4:00 PM to 4:45 PM.
Key Highlights
- Board approves divestment of 27% stake in Sharvesh Power Projects.
- Disinvestment is due to rescission of a Power Purchase Agreement.
- Sharvesh Power Projects had no contribution to company's financials.
- Investment's underlying purpose no longer subsists.
Price Impact
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