NHPC has received approval from board of directors to merge the company's arm Jalpower Corporation (JPCL) with itself. The company had acquired Jalpower Corporation and its 120 MW Rangit Stage-IV hydro power project in March 2021 through insolvency proceedings. The Board of Directors of NHPC in its meeting held on November 10, 2022 has inter-alia approved the scheme of merger/ amalgamation.
Since the merger is between wholly-owned subsidiary and holding company, no cash or issue of new shares shall be undertaken. There will be no change in shareholding pattern post-merger.
NHPC is engaged in electric power generation by hydroelectric power plants. The company is also engaged in contracts, project management and consultancy works.
| Company Name | CMP |
|---|---|
| NTPC | 402.20 |
| Tata Power | 436.00 |
| Adani Power | 225.15 |
| Power Grid Corp | 313.90 |
| Torrent Power | 1724.80 |
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