Power Grid to buy IL&FS unit's 38% stake in India-Nepal power transmission co CPTCL

Power Grid Corporation (PGCIL) will purchase IL&FS Energy Development Company Ltd's (IEDCL) 38% shareholding (or 77,30,225 shares) in Cross Border Power Transmission Company Ltd (CPTCL). Currently, Power Grid owns 26% stake in CPTCL, while Nepal Electricity Authority has a 10% stake.