Purchase of 1,12,56,250 Equity Shares of M/s Chirchind Hydro Power Private Limited (CHPPL) through acquiring these shares from M/s GTV Infrastrucutres Private Limited being a shareholder ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
GTV Engineering's board approved acquiring 1,12,56,250 equity shares (35.31%) of Chirchind Hydro Power Private Limited (CHPPL) from GTV Infrastructures Private Limited through a share swap deal worth approximately Rs. 23.52 crore. To fund this, the company will issue up to 39,42,047 new equity shares at Rs. 59.65 each (face value Rs. 2, premium Rs. 57.65). Post-acquisition, GTV Engineering will hold 51% in CHPPL, making it a subsidiary, and Shivalik Energy (a CHPPL subsidiary) will become a step-down subsidiary. CHPPL is engaged in small hydro power generation and heavy steel fabrication with FY25 turnover of Rs. 32.60 crore. Since CHPPL is a related party, the deal needs shareholder approval at the EGM scheduled for April 16, 2026 (record date April 9, 2026).
The acquisition diversifies GTV Engineering into the power generation sector beyond its existing line of business, but involves share dilution (paid-up capital rises from Rs. 9.37 crore to Rs. 10.16 crore). As a related party transaction, it is subject to shareholder approval, and the share-swap structure means no immediate cash outflow but existing shareholders will see their stake diluted slightly.