Post the stake acquisition, NHPC's share in Chenab Valley Power Projects will increase to 51 per centNHPC has gotten the consent to obtain the entire 2 percent stake of PTC India in Chenab Valley Power Projects.
Chenab Valley Power Projects is a joint endeavor business; NHPC holds 49 per cent in Chenab Valley Power Projects, whereas JKSPDC holds 49 per cent and PTC holds 2 per cent.
Post the stake acquisition, NHPC's share in Chenab Valley Power Projects will increase to 51 percent and it will end up being a majority stakeholder.
Ministry of Power vide its letter dated May 12, 2021 has actually communicated approval of qualified authority for taking over of 2 per cent equity of PTC India Limited (PTC) in Chenab Valley Power Projects Private Ltd (A Joint Venture Business between NHPC (49 per cent), JKSPDC (49 percent) and PTC (2 percent) by NHPC, NHPC stated in a regulative filing to the stock exchaanges.Chenab Valley Power Projects was integrated in the year 2011 to harness the large hydro capacity of Chenab river.On Wednesday, the shares of NHPC had actually ended marginally greater by 0.3 percent at Rs 26.60 in a weak market.