GTV Engineering Allots 39.4 Lakh Shares for CHPPL Acquisition

GTV Engineering Ltd has approved the allotment of 39,42,046 equity shares at ₹59.65 each to GTV Infrastructures Private Limited (GIPL) on a preferential basis. This allotment, valued at approximately ₹23.52 Crores, is in consideration for the acquisition of a 35.31% stake in Chirchind Hydro Power Private Limited (CHPPL). Consequently, CHPPL has become a subsidiary of GTV Engineering, and Shivalik Energy Private Limited, a subsidiary of CHPPL, is now a step-down subsidiary. The company's paid-up equity capital has increased following this transaction.