Bajaj Hindusthan Sugar intends to sell its co-generation power business to its group company Lalitpur Power Generation Company (LPGCL) for a total consideration of around Rs 1,800 crore.
The company plans to sell and transfer its power business of 449 MW capacity, situated at 14 locations, to its group company.
The entire amount of cash generated from the sale of the power business will be utilised by the company towards advance repayment of its existing term debt.