BHEL to acquire Visakhapatanam BHPV
One of India’s leading Public Sector Undertaking Company, Bharat Heavy Electricals Ltd, BHEL is all set to acquire Visakhapatanam Bharat Heavy Plate & Vessels Ltd. (BHPV).
BHEL will acquire BHPV as a subsidiary and initially invest Rs. 275 crore as CAPEX apart from investing Rs. 34 crore as equity in the company.
The Department of Heavy Industry had proposed that Government may waive/write off loans and interests of BHPV amounting to Rs. 414.95 crore and to settle all outstanding liabilities of the company amounting to Rs. 263.97 crore.
The Government approved “in principle” the take over of BHPV by BHEL. The Union Cabinet had earlier approved the financial restructuring and strengthening package of BHPV with the direction that the valuation of BHPV be carried out prudently on the basis of established principles.
As a follow up to the Government decision, a study has been commissioned by SBI Caps for valuation of BHPV as an on-going concern.
One of India’s leading Public Sector Undertaking Company, Bharat Heavy Electricals Ltd, BHEL is all set to acquire Visakhapatanam Bharat Heavy Plate & Vessels Ltd. (BHPV).
BHEL will acquire BHPV as a subsidiary and initially invest Rs. 275 crore as CAPEX apart from investing Rs. 34 crore as equity in the company.
The Department of Heavy Industry had proposed that Government may waive/write off loans and interests of BHPV amounting to Rs. 414.95 crore and to settle all outstanding liabilities of the company amounting to Rs. 263.97 crore.
The Government approved “in principle” the take over of BHPV by BHEL. The Union Cabinet had earlier approved the financial restructuring and strengthening package of BHPV with the direction that the valuation of BHPV be carried out prudently on the basis of established principles.
As a follow up to the Government decision, a study has been commissioned by SBI Caps for valuation of BHPV as an on-going concern.