CG Power and Industrial Solutions Limited has informed the Exchange regarding 'Update on BTW'.
CGPOWER · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.2 pts less than Nifty 100 and 1.7 pts more than its Heavy Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
CG Power had been selected as the highest bidder in February 2025 to acquire 90% of the equity shares of BTW-Atlanta Transformers India Private Limited from its majority shareholder, Baoding Tianwei Baobian Electric Co., Ltd. (a China Beijing Stock Exchange-listed entity). On 7th May 2025, the Company received a letter from the China Beijing Stock Exchange informing that the minority shareholder of BTW India has exercised its Right of First Refusal (ROFR). As a result, CG Power will not be able to go ahead with the purchase of shares from the majority shareholder, and the proposed acquisition will not be completed.
This is a negative development for CG Power as the planned expansion of its transformers business through the BTW India acquisition has fallen through. Shareholders may see short-term negative sentiment on the stock, though the company had not committed any funds yet, so the financial impact is limited to lost growth opportunity.