NEW DELHI: India's largest hydropower generator NHPC Ltd is keen on buying out its public sector co-promoters in power trading firm PTC India Ltd, three people aware of the plan said.
Currently, NHPC, NTPC Ltd, Power Grid Corp. of India Ltd and Power Finance Corp. Ltd hold about 4.05% each in PTC India, totalling 16.2%. The four PSUs had appointed ICICI Securities as merchant banker in 2022 for the transaction, after the power ministry approved their exit plan. "The companies have been eyeing an exit for some time now and are expecting to carry out the stake sale by the end of this financial year," one of the two people mentioned above said on the condition of anonymity.
Queries emailed to NHPC, NTPC, PowerGrid and PFC remained unanswered.
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