Companies

NTPC’s 74.5% stake-buy in THDC India gets nod of competition panel

Our Bureau New Delhi | Updated on February 24, 2020 Published on February 24, 2020

The Competition Commission of India (CCI) has approved the acquisition of 74.50 per cent paid-up share capital of THDC India Limited (THDCIL) by NTPC Limited. NTPC is buying these shares from the Government of India, and the approval is under Section 31(1) of the Competition Act, 2002.

The balance of THDC’s shares continue to held by the Government of Uttar Pradesh.

NTPC will be forking out close to ₹15,000 crore this fiscal to buy out the Centre’s stake in North Eastern Electric Power Corporation Ltd (NEEPCO) and THDC.

According to company officials in the know, NTPC is planning to complete the buyout by the end of financial year 2019-20 in a bid to aid the Centre that is struggling to meet its disinvestment targets. So far this fiscal, the Centre has mobilised ₹17,364.26 crore through disinvestments. It has a target to garner ₹1,05,000 crore through disinvestment proceeds before the end of the current fiscal.

Published on February 24, 2020
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