Hydel Based PowerNHPC board has approved a proposal to merge the company’s arm Jalpower Corporation with itself. NHPC had acquired Jalpower Corporation (JPCL) and its 120 MW Rangit Stage-IV hydro power project in March 2021 through insolvency proceedings.

Board of Directors of NHPC has inter-alia approved the scheme of merger/ amalgamation of Jalpower Corporation with the company.

There will be no change in shareholding pattern post-merger.

Earlier in March 2021, the company had informed the bourses that it has completed the formalities for the takeover of Rangit Stage-IV Hydro Electric Project (120 MW) by remitting Rs 165 crore to the account of JPCL for distribution to the creditors as per the approved resolution plan


Print pagePDF pageEmail page

LEAVE A REPLY

Please enter your comment!
Please enter your name here

*