KEC Announces Successful Sale of Stake in KECBSTPL

KEC International Ltd (KEC), has announced the successful sale of its 99.99 per cent stake in KEC Bikaner Sikar Transmission Private Limited (KECBSTPL) to Adani Transmission Ltd (ATL) at an Enterprise Value of around Rs 227.5 crore.

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KEC Announces Successful Sale of Stake in KECBSTPL

KEC International Ltd (KEC), has announced the successful sale of its 99.99 per cent stake in KEC Bikaner Sikar Transmission Private Limited (KECBSTPL) to Adani Transmission Ltd (ATL) at an Enterprise Value of around Rs 227.5 crore.

The sale was previously announced on November 3, 2018, and has completed effective. KECBSTPL is having an operational transmission line of 344 ckt. kms in the state of Rajasthan from Bikaner to Sikar. KEC Bikaner Sikar Transmission Private Limited holds a minimum 25 years concession license to operate and maintain a 400 kV D/C Bikaner- Sikar Line of 344 Ckt kms in Rajasthan. The project was awarded through competitive bidding process, the project was physically completed almost four months ahead of schedule by KEC International Ltd.

The line was commissioned in December, 2017 and since then has been in successful operation. Vimal Kejriwal, MD & CEO, KEC International commented, “We are happy to successfully complete the sale transaction of our entire stake in KEC Bikaner Sikar Transmission Pvt. Ltd. to ATL. Our decision to sell our stake in KECBSTPL is in line with our asset light model of operations and our strategy to focus on the core EPC business.”

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