NTPC completes acquisition of Jhabua Power Ltd

6 Sep 2022 , 09:26 AM

NTPC Limited informed that the resolution plan submitted by the company and approved by NCLT on July 6, 2022, has been implemented. Consequently, NTPC has completed the acquisition of Jhabua Power Limited.

The re-constituted board of Jhabua Power Limited has assumed management of Jhabua Power Limited, as suggested under the Plan.

Furthermore, with the acquisition of Jhabua Power Limited, which had an installed and commercial capacity of 600 MW, the NTPC Group’s installed and commercial capacity has surpassed 70 GW and is presently at 70064 MW.

The company paid a total consideration of Rs925 crore, of which Rs325 crore was paid for equity and Rs600 crore was paid for NCD allocation.

NTPC has acquired a 50% stake in Jhabua Power.

Jhabua Power Limited (JPL), a company founded by Avantha Power & Infrastructure Limited, is a power-producing company situated in the Madhya Pradesh district of Seoni.

At around 9.29 AM, NTPC was trading at Rs165.80 up by 0.97% from its previous closing of Rs164.20 on the BSE. The scrip opened at Rs166.15.

For feedback and suggestions, write to us at [e-mail]