<article>Infrastructure firm NCC Ltd on Friday said its subsidiary NCC Infrastructure Holdings Ltd will sell a portion of its stake in Sembcorp Gayatri Power Ltd (SGPL) to Sembcorp Utilities Pte Ltd for Rs.301.26 crore.</article>

Infrastructure firm NCC Ltd on Friday said its subsidiary NCC Infrastructure Holdings Ltd will sell a portion of its stake in Sembcorp Gayatri Power Ltd (SGPL) to Sembcorp Utilities Pte Ltd for Rs.301.26 crore.
This is the second part-stake sale NCC has announced in the coal-fired power project since March.
SGPL is implementing a 1,320 megawatt (MW) coal-fired power plant near Krishnapatnam, Andhra Pradesh.
NCC said as part of its strategy of divesting stakes held in various special purpose vehicles, NCC Infrastructure has entered into a share sale agreement with Sembcorp Utilities for sale of its stake in Sembcorp Gayatri Power.
NCC will sell 216.1 million shares of Rs.10 each for a total consideration of Rs.301.26 crore in the transaction, the company said in a BSE filing on Friday.
In March, NCC Infrastructure had sold 16% of its stake in SGPL to Sembcorp Utilities for Rs.320 crore.
Gayatri Energy Ventures Pvt. Ltd and NCC together held 51% stake in the thermal power plant through NCC Infrastructure Holdings.
Sembcorp Utilities will own 88% of SGPL while the remaining stake will be held by Gayatri Energy Ventures through NCC Infrastructure Holdings, according to Sembcorp’s website.
Sembcorp develops, owns and operates assets in both thermal and renewable energy sectors in India. It has over 3,500 MW of power capacity in operation and under development, of which 2,640 MW is thermal energy and over 900 MW is renewable energy, according to its website.
The SGPL plant is a part of Sembcorp Gayatri Power Complex, which has a total project cost of $3 billion. The 2,640-MW power complex in Krishnaptnam houses two 1,320 MW coal-fired plants—owned by Thermal Powertech Corp. India Ltd and SGPL.
This article was first published on <a href="http://www.livemint.com">Livemint.com</a>

 NCC Ltd  said its subsidiary NCC Infrastructure Holdings Ltd will sell a portion of its stake in Sembcorp Gayatri Power Ltd  to Sembcorp Utilities Pte Ltd. 

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