For CG Power, the trouble started long before it reported serious lapses
5 years, 7 months ago

For CG Power, the trouble started long before it reported serious lapses

Live Mint  

Shares of CG Power and Industrial Solutions Ltd have tumbled 36% in the last two trading sessions on news of serious accounting lapses at the company. The company’s market capitalization has fallen from around ₹6,000 crore in January 2018 to ₹1,156 crore earlier this week, even before it reported the unauthorized transactions by certain employees on Tuesday. CG Power’s market cap has declined by about ₹400 crore since it reported the unauthorized transactions. But for the stock, trouble began when the company, in its earlier consolidated avatar as Crompton Greaves Ltd, aggressively acquired firms overseas.

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CG Power sets board meeting date on March 18 to consider first interim dividend in FY25; details here
1 week, 4 days ago

CG Power sets board meeting date on March 18 to consider first interim dividend in FY25; details here

Live Mint  

CG Power announced during market hours on Tuesday, March 11, that its board of directors will meet next week to consider an interim dividend for the financial year 2024-25. "We wish to inform you that a meeting of the board of directors of the company is scheduled to be held on Tuesday, 18 March 2025, to consider the declaration of …

CG Power & Solutions shares down 12%, continues to decline for fifth session straight; What’s behind the plunge?
1 month, 3 weeks ago

CG Power & Solutions shares down 12%, continues to decline for fifth session straight; What’s behind the plunge?

Live Mint  

CG Power & Solutions share price continued the downward trend for fifth session straight, fell over 12 per cent on Tuesday on National Stock Exchange. CG Power shares experienced substantial selling pressure on the NSE, with a total trading volume of 121.75 lakh shares and a traded value of ₹666.34 crore as of 12:30 PM today. However, year-to-date, the stock …

All you need to know about CG Power’s chip facility approved by govt
1 year ago

All you need to know about CG Power’s chip facility approved by govt

Live Mint  

CG Power said it has partnered with Japan's Renesas Electronics and Thailand's Stars Microelectronics for a ₹7,600 crore semiconductor facility in Sanand, Gujarat, as part of India's chip push. All You Need to Know About CG Power's New Planned Chip Plant CG Power and Industrial Solutions will form a joint venture with an arm of chip specialist Renesas Electronics Corp, …

Private Equity firm KKR cuts down stake in CG Power
4 years, 7 months ago

Private Equity firm KKR cuts down stake in CG Power

Live Mint  

Private Equity giant KKR on Friday further divested 18.07 million or 2.88% stake in troubled firm CG Power & Industrial Solutions Ltd for ₹30.54 crore through an open market transaction. As per the block deal data available on the exchange, KKR India Debt Opportunities Fund II sold 34,64,021 equity shares in company at ₹16.95 per share on the BSE, while …

After KKR, L&T Finance, now Yes Bank sells CG Power shares worth ₹76 crore
4 years, 7 months ago

After KKR, L&T Finance, now Yes Bank sells CG Power shares worth ₹76 crore

Live Mint  

Mumbai: Private sector lender Yes Bank Ltd on Tuesday, offloaded 5.18 crore shares or 8.27% equity stake in CG Power & Industrial Solutions Ltd for ₹76 crore, via open market transactions, joining other institutional investors such as private equity firm KKR and L&T Finance, who have sold shares in past two days. Yes Bank sold 2.38 crore equity shares in …

CG Power to sell non-core assets, raise fresh equity
5 years, 6 months ago

CG Power to sell non-core assets, raise fresh equity

Live Mint  

Mumbai: The board of Gautam Thapar-promoted CG Power and Industrial Solutions Ltd is considering selling non-core assets and exploring various fundraising avenues to deleverage the company and optimize its operations, the company said in a filing to stock exchanges on Tuesday. CG Power’s stock crashed 20%, the maximum permissible daily limit for the stock, on 20 August after its board …

CG Power shares slump after ‘suspect’ transactions found
5 years, 7 months ago

CG Power shares slump after ‘suspect’ transactions found

Live Mint  

Mumbai: Shares of the Gautam Thapar-promoted CG Power and Industrial Solutions Ltd crashed almost 20% on Tuesday after its board cited major governance and financial lapses. "The total liabilities of the Company and the Group may have been potentially understated by approximately ₹1,053.54 crore and ₹1,608.17 crore, respectively, as at 31 March 2018," the exchange filing said. The company added …

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