NHPC Limited announced that its shareholding in Ratle Hydroelectric Power Corporation Limited (RHPCL) has temporarily dropped from 59.51% to 49.72% following additional equity infusion by Jammu & Kashmir State Power Development Corporation Limited. NHPC clarified that its stake will soon rise again after matching equity contribution, which is currently underway.
NHPC Limited informed through an exchange filing that its equity shareholding and voting rights in Ratle Hydroelectric Power Corporation Limited (RHPCL), a subsidiary company, have temporarily decreased to 49.72% from 59.51%. The dip follows additional equity contribution from Jammu & Kashmir State Power Development Corporation Limited (JKSPDCL), its co-promoter in RHPCL.
The company emphasized that this reduction is temporary and will be restored once NHPC contributes its matching share of equity, which is presently under process. NHPC also stated that any further developments in this matter will be communicated in due course.
Key Highlights
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NHPC’s stake in RHPCL reduced from 59.51% to 49.72%.
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Reduction due to equity infusion by JKSPDCL, the other promoter.
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NHPC’s matching equity contribution is under process.
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The decrease is temporary; majority stake will be restored soon.
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RHPCL operates the Ratle Hydroelectric Project in Jammu & Kashmir.
Source: NHPC Limited exchange filing (BSE, NSE)