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NHPC board approves Jalpower Corp merger

Friday, 11 Nov 2022
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NHPC 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.
 
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