NTPC acquires Jhabua Power Ltd

The Resolution Plan dated 14th June, 2021 (Plan) submitted by NTPC Limited and approved by NCLT, Kolkata Bench vide its order dated 6th July 2022 for Jhabua Power Limited has been implemented on 05.09.2022. The re-constituted board of Jhabua Power Limited, as provided under the Plan, has assumed management of the Jhabua Power Limited.

Further, post-acquisition of Jhabua Power Limited, having installed and commercial capacity of 600 MW, NTPC Group's Installed and Commercial Capacity has crossed 70 GW and now stands at 70064 MW.

The total consideration paid was Rs. 925 Crore, out of which Rs. 325 Crore was paid towards equity and Rs. 600 Crore was paid for allotment of NCDs.

Jhabua Power Limited (JPL), a company originally promoted by Avantha Power & Infrastructure Limited, is a power generation company based at Seoni district in the State of Madhya Pradesh.

Source : Equity Bulls

Keywords

NTPC ResolutionPlan Implementation JhabuaPower