GAIL falls 3% after emerging as top bidder for IL&FS wind power plants

At 0931 hrs, GAIL was quoting Rs 334.25, down 2.96 percent on the BSE.

Shares of GAIL fell 3 percent intraday on April 23 after the natural gas company emerged as the top bidder for wind power plants of Infrastructure Leasing and Financial Services (IL&FS).

According to media reports, GAIL has offered around Rs 4,800 crore for 100 percent enterprise value, thereby resulting in no hair cut to the debt of the Special Purpose Vehicles (SPVs), which aggregates to nearly Rs 3,700 crore.

These wind power assets of IL&FS have a total generation capacity of 874 MW.

At 0931 hrs, GAIL was quoting Rs 334.25, down 2.96 percent on the BSE.

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