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CG Power and Industrial Solutions' arm CPSI to sell factory assets to Indonesia-based firmShares of CG Power and Industrial Solutions Ltd ended at ₹713.15, down by ₹11.35, or 1.57%, on the BSE.By Jomy Jos Pullokaran  February 25, 2026, 11:29:32 PM IST (Updated)2 Min ReadEngineering company CG Power and Industrial Solutions Ltd on Wednesday (February 25) said its subsidiary PT Crompton Prima Switchgear Indonesia (CPSI) has entered into a heads of agreement regarding a sale and purchase binding agreement with PT Prima Layanan Nasional Enjiniring (PLNE), Indonesia, for the sale of all its factory assets for a total consideration of IDR155 billion (Indonesian rupiah).

CPSI was established as a venture between CG International Holdings Singapore Pte Ltd., a wholly owned foreign subsidiary of CG Power, holding 51%, and PLNE holding 49%. CPSI has been a non-operating entity and has been considered discontinued operations since FY 2022-23. It contributed nil turnover, revenue, income, and net worth in the last financial year.

Under the agreement dated February 25, 2026, PLNE has agreed to purchase all factory assets of CPSI, including land, plant and machinery, furniture and equipment. The expected date of completion of the sale is March 31, 2026.

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The consideration received from the transaction will be utilised by CPSI to meet its external liabilities, with the balance towards meeting shareholders’ loans. The company stated that there will be no adverse financial impact on its financial statements on account of the transaction.

PLNE does not belong to the promoter or promoter group or any group companies. The transaction is not a related party transaction and is outside the scheme of arrangement. The provisions relating to slump sale are not applicable.

Shares of CG Power and Industrial Solutions Ltd ended at ₹713.15, down by ₹11.35, or 1.57%, on the BSE.

Also Read: CG Power Q2 Results: Stock rises despite earnings missing street expectationsContinue Reading(Edited by : Jomy Jos Pullokaran)First Published: Feb 25, 2026 11:24 PM ISTTagsCG Power and Industrial Solutions ltdshare market today