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NTPC concludes acquisition of govt’s stake in THDC & NEEPCO

Posted bySumit Arora Published On March 28th, 2020 Leave a comment on NTPC concludes acquisition of govt’s stake in THDC & NEEPCO
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National Thermal Power Corporation Limited (NTPC) concluded the acquisition of Centre’s entire stake in two hydropower generating firms, Tehri Hydro Power Complex (THDC) India and North Eastern Electric Power Corporation (NEEPCO), at Rs 11,500 crore.

Under the deal, NTPC acquired the latter’s 74.496 % equity stake in THDC India Ltd (THDCIL) for Rs 7,500 crore & its 100% equity in North-Eastern Electric Power Corporation Limited (NEEPC) for Rs 4,000 crore respectively.

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The acquisition comes during coronavirus (COVID-19) outbreak and declining tax collections will help bridge the gap between DIPAM’s (Department of Public Asset Management) disinvestment target of Rs 65,000 crore for the financial year 2020 & realization (a sale in order to obtain money), which has witnessed more than Rs 34,000 crore till February 2020.

Important takeaways for all competitive exams:

  • Headquarters of NTPC: New Delhi.
  • Chairman & MD of NTPC: Gurdeep Singh.

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About the Author
Sumit Arora
Sumit Arora
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As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.

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