, via its wholly-owned subsidiary TNB Topaz Energy Sdn Bhd , has divested all of its 105.6 million units of Tranche 1 investment in the compulsorily convertible debentures issued by GMR Bajoli Holi Hydropower Private Ltd of India for 1.176 billion Indian rupees .
"The divestment is also consistent with TNB’s initiatives to seek monetisation options for its assets in India and other non-focus markets,” the utility giant said in a filing with Bursa Malaysia today. Following the delay in project completion, TNBTE did not proceed with Tranche 2 of the CCD investment subscription of 1.2 billion rupees, originally scheduled by September 2019.
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