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.
