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Orient Green Power Company announced that Orient Green Power Singapore ('OGPPL'), a company belonging to the Promoter Group has entered into Scheme of Compromise and Arrangement, with Shriram EPC (Singapore), Singapore ('hereinafter SEPC') and Shriram Ventures, Singapore, whereby the shares held by OGPPL in the equity share capital of the Company shall stand proportionately distributed to the shareholders of OGPPL.
The Scheme of Arrangement has been approved by the Honourable High Court of the Republic of Singapore. OGPPL has been a promoter of the Company since 2010, and currently holds 34.91% stake in the Company.
Shriram EPC (Singapore), Singapore ('SEPC PTE') holds 37.7% in the equity share capital of OGPPL. The entire equity share capital of SEPC PTE is held by SVL, the Indian Promoter Group company. The other equity shareholders of OGPPL, who are financial investors, are Beseemer India Capital OGPL ('BVP') with 37.7% and AEP Green Power ('AEP') with 24.6%.
Pursuant to the distribution of shares under the said Scheme of Compromise and Arrangement, SVL, BVP and AEP will come to hold 34.95%, 13.16% and 8.59% respectively. The total promoter shareholding in the equity share capital of the Company would thereafter be 48.73%.
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