Megha Engg to buy Lanco Anpara stake for Rs 855 crore

Banks led by IDBI Bank will soon sell 71% equity stake of thermal power company Lanco Anpara Power to Hyderabad-based Megha Engineering and Infrastructures for ₹855 crore, said two people aware of the development. Although Lanco Anpara Power, a special purpose vehicle (SPV) of bankrupt Lanco Infratech, is a performing asset, lenders decided to monetise 71% equity stake that defaulter Lanco Infratech had pledged as security against ₹12,000-crore loans.

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