Bachelor's Area

GMR Infrastructure Ltd has informed that GMR Energy Ltd, the Company's 100% Subsidiary Company had entered into a Share Purchase and Joint Venture Agreement to acquire 80% stake of a Himtal Hydro Power Co. (P) Ltd. having its registered office at Kathmandu, Nepal ("Himtal"). Himtal have subsisting Survey Licence issued by the Department of Electricity Development, Govt. of Nepal for undertaking the Feasibility Study and Environmental Impact Assessment Study for setting up a 250 MW Upper Marsyangdi 2, Hydro Power Project, located in Upper Marsyangdi, Nepal. Further the Company has informed that, the necessary application has been submitted to the Investment Promotion Board, Department of Industries of Government of Nepal, seeking their approval for the same. India's GMR Infrastructure has launched a share sale worth $500 million at a price band of 143 to 145 rupees each, two sources with knowledge of the deal said on Monday. Enam, ICICI Securities, IDFC-SSKI, JP Morgan...