Categories: Miscellaneous

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

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.

Click Here To Get Test Series For SBI PO 2020

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.

Find More Miscellaneous News Here

Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.