GVK Power & Infrastructure Ltd has informed that GVK Power (Goindwal Sahib) Ltd, a wholly owned subsidiary of the Company has signed the ‘Amended and Restated Power Purchase Agreement’ with the Punjab State Electricity Board (PSEB).

Under the contract, the company will implement 2 x 270 MW Coal based Thermal Power Plant at Goindwal Sahib, Taran Taran District, Punjab.

Apart from this, the subsidiary has also signed an ‘Escrow Agreement’ with PSEB and their Bankers for the project.

Yesterday, GVK Power & Infrastructure has revealed its plans to raise around Rs 2,500 crore through a qualified institutional placement.

The company’s shares were down 4.52% to close at Rs 46.50 on the BSE.