CG Power to Sell Indonesian Subsidiary Assets for IDR155 Billion
CG Power will sell assets of its non-operating Indonesian subsidiary, CPSI, to PLNE for IDR 155 Billion (approx. ₹820 crore). The sale aims to clear liabilities and shareholder loans. The transaction is expected to complete by March 31, 2026, with no adverse financial impact anticipated.
The subsidiary is non-operational and has been classified as discontinued operations. The transaction is not expected to have any adverse financial impact on the company's financial statements, thus having a low impact.
The sale of assets of a non-operating subsidiary is a routine restructuring activity. While it aims to clear liabilities, the company has explicitly stated there will be no adverse financial impact, indicating a neutral outcome.
CG Power and Industrial Solutions Limited has announced the sale of assets of its non-operating Indonesian subsidiary, PT Crompton Prima Switchgear Indonesia (CPSI). CPSI, in which CG International Holdings Singapore Pte Ltd. (a wholly owned foreign subsidiary of CG Power) holds a 51% stake and PT Prima Layanan Nasional Enjiniring (PLNE) holds 49%, has been considered a discontinued operation since FY 2022-23.
The company entered into a Heads of Agreement regarding a Sale and Purchase Binding Agreement with PLNE, whereby PLNE will purchase all of CPSI's Factory Assets, including land, plant and machinery, and equipment, for a total consideration of IDR 155 Billion (approximately ₹820 crore). The transaction is subject to the fulfillment of terms and conditions by both parties.
The proceeds from the sale will be utilized by CPSI to meet its external liabilities, with the balance to be applied towards loans of shareholders. The company has stated that there will be no adverse financial impact on its financial statements due to this transaction. The agreement for sale was entered into on 25th February 2026, and the expected date of completion of the sale is 31st March 2026. The buyer, PLNE, does not belong to the promoter group or any group companies of CG Power.
What to do with a filing like this
CG Power and Industrial Solutions Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by CG Power and Industrial Solutions Limited. Read the original for the full detail.