Mahindra sells entire stake in 3 Renewable Energy arms to CLP India for Rs 340 cr

recently said its wholly-owned arm Mahindra will sell its entire stake in three subsidiaries to CLP India.

Mahindra will sell its entire stake aggregating 100 per cent of the paid-up equity share capital in Cleansolar (CREPL), Divine Solren (DSPL) and Neo Solren (NSPL) for nearly Rs 340 to CLP India.

In the fiscal ended March 31, 2019, CREPL had a turnover of Rs 39.15 crore DSPL’s and NSPL’s turnover stood at Rs 54.18 crore and Rs 42.68 crore, respectively. The transaction is expected to be completed by May 31, 2020.