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PFC acquires stake in Shree Maheshwar Hydel Power Corp

Friday, 03 Jun 2016
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Power Finance Corporation (PFC) has acquired over 23 percent stake in Shree Maheshwar Hydel Power Corporation (SMHPCL) by invoking pledged shares and partially converting debt into equity.

Upon invocation of pledged shares and partial conversion of sub debt, the total shareholding of PFC in SMHPCL stands at 13,18,46,779 equity shares of Rs 10 each representing 23.32 percent of the paid up equity share capital of SMHPCL.

Maheshwar hydel project is a 400 MW run-off-the-river project on river Narmada, located about 100 km from Indore.

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