The company said that the move will result in listing of AGEL on the BSE and the National Stock Exchange of India.
According to a company statement, the scheme will simplify the business structure providing the shareholders of AEL direct shareholding in AGEL.
"Transaction is expected to unlock the value of renewable power undertaking currently embedded in the value of AEL by eliminating holding company discount and providing financial flexibility for raising capital for sustainable growth of renewable energy business," the statement said.
The company added that transaction contemplated under the scheme is expected to close by the first quarter of 2018.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
About VDC
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.