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NHPC seeks to buy out co-promoters in PTC
Hindustan Times Lucknow
|January 10, 2025
Move will help NHPC expand power trading business; co won't acquire finance unit
NEW DELHI: India's largest hydropower generator NHPC Ltd is keen on buying out its public sector co-promoters in power trading firm PTC India Ltd, three people aware of the plan said.
The Union power ministry officials will meet top executives from the four PSU promoters on Friday when the PTC India stake sale is likely to be discussed, one of the three people said on the condition of anonymity.
Currently, NHPC, NTPC Ltd, Power Grid Corp. of India Ltd and Power Finance Corp. Ltd hold about 4.05% each in PTC India, totalling 16.2%. The four PSUs had appointed ICICI Securities as merchant banker in 2022 for the transaction, after the power ministry approved their exit plan.
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