Mumbai: GTL Ltd said on Friday it has won a power distribution franchise contract by Maharashtra State Electricity Distribution in Aurangabad.
It did not provide any details in the statement to the Bombay Stock Exchange.
Last year, Reuters had reported citing sources that Spanco and GTL have emerged as the highest bidders to distribute power in two cities of Maharashtra including Nagpur and Aurangabad.
The network services provider has entered into long-term contracts in energy management business with various telecom operators, it added.
The company also said on Friday that Manoj Tirodkar has stepped down as chairman and managing director of the company as it has put in place a senior management team for its existing and new businesses.
“This does not impact the ownership or control of Manoj Tirodkar in the company,” it said in a statement, adding that Tirdokar will act as non-executive chairman but did not give more details.
Manoj Tirodkar is the founder of network services provider GTL Ltd and GTL Infrastructure, which owns telecom towers. Global Holding Corp, the holding company for both these firms, hold more than 52% in GTL and 36.2% in GTL Infra.