GE T&D India Promoters To Review Shareholding Structure; Consider Minority Stake Sale
GE Grid Alliance B.V. holds 6.46% stake and Grid Equipments holds 68.54% stake in the company.
GE T&D India Ltd. promoters will review its shareholding structure to simplify its holding structure. The promoters also added that they would evaluate the possibility of a minority stake sale.
GE Grid Alliance B.V. formerly known as Alstom Grid Holding B.V. and Grid Equipments Pvt. Ltd. notified the company on Tuesday that they would evaluate and assess their current shareholding in the company, according to an exchange filing by the company. The company offers products and services for power generation, transmission and distribution.
The promoter group also said that it will also evaluate the possibility of a minority stake sale in the company. However, the company has notified that it has intentions to continue as a minority shareholder of the company.
While GE Grid Alliance B.V. holds a 6.46% stake, Grid Equipments holds a 68.54% stake in the company.
GE T&D India said on Wednesday it has secured an order worth Rs 305 crore from the state-owned Power Grid Corporation of India. The order is for the supply, installation, testing, commissioning and maintenance of supervisory control and data acquisition and energy management systems control centres.
The scrip closed 0.13% higher at Rs 1,800.15 apiece. This compares to a 0.51% advance in the NSE Nifty 50 Index.
