CESC Ltd has successfully acquired a distribution company responsible for electricity distribution in Chandigarh for a significant amount of Rs 871 crore.

The acquisition was made by Eminent Electricity Distribution Ltd, a wholly-owned subsidiary of CESC, following a Letter of Intent.

The deal, which began in 2021, faced delays due to legal challenges from trade unions opposing the privatization of the electricity distribution sector.

However, a recent ruling from the Punjab and Haryana High Court dismissed the unions' objections, allowing the acquisition to proceed.

CESC, a part of the RP-Sanjiv Goenka Group, emerged as the highest bidder for the Chandigarh distribution business, overcoming the legal hurdles that had previously stalled the agreement.