Krishna Reddy's Buyout of PP Reddy's 51% Stake in Megha Engineering
Sector: Power Generation (CCGT) • Location: Multiple states including Uttar Pradesh, Punjab, Maharashtra, Madhya Pradesh, Andhra Pradesh, Tamil Nadu, India
Source: The Economic Times
PV Krishna Reddy plans to acquire his uncle Pamireddy Pitchi Reddy's 51% controlling stake in Megha Engineering and Infrastructure for around Rs 12,000-15,000 crore. The deal involves raising funds through asset monetization and financial institutions, with a target completion by March 2027. Assets considered for monetization include a power transmission project in western Uttar Pradesh and the ci
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Status
Original status | planned |
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Description
Description | PV Krishna Reddy plans to acquire his uncle Pamireddy Pitchi Reddy's 51% controlling stake in Megha Engineering and Infrastructure for around Rs 12,000-15,000 crore. The deal involves raising funds through asset monetization and financial institutions, with a target completion by March 2027. Assets considered for monetization include a power transmission project in western Uttar Pradesh and the city gas unit operating in multiple states. The buyout aims to consolidate ownership and potentially prepare for an IPO in the future. |
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Original Currency | USD |
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Source
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Data quality score | 100% |
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URL | obfuscated_data,obfuscateddata.com |
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