CESC Limited’s wholly owned subsidiary, Eminent Electricity Distribution Limited, has received a Letter of Intent (LOI) for the acquisition of 100% shares in a distribution company responsible for electricity distribution and retail supply in the Union Territory of Chandigarh.
The acquisition is part of CESC’s strategy to expand its footprint in the electricity distribution sector. The company will acquire the distribution company, which holds a valid distribution license for the region. The transaction is valued at approximately ₹871 crore, subject to the terms and conditions outlined in the LOI.
The deal is expected to be executed within 30 days of the LOI issuance. This acquisition aligns with CESC’s long-term growth plans and strengthens its presence in the power distribution industry. The transaction is not related to any related party and will be conducted at arm’s length.
