Stock Market NTPC inks pact to purchase GAIL's 25% stake in...

NTPC inks pact to purchase GAIL’s 25% stake in RGPPL

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NEW DELHI: State-owned on Tuesday mentioned it has signed a share buy settlement to purchase ‘s 25.51 per cent stake in Ratnagiri Fuel and Energy Pvt Ltd (RGPPL), which is usually generally known as Dabhol undertaking.

After the transaction is full, NTPC would have 86.49 per cent stake within the RGPPL. Earlier in January, the corporate had introduced buying 35.47 per cent stake in RGPPL from its lenders. Initially, NTPC and GAIL had 25.51 per cent stake every within the Dabhol undertaking.

“NTPC Ltd has executed share buy agreements with GAIL (India) Ld on February 23, 2021, for buy of GAIL’s share (25.51 per cent) in Ratnagiri Fuel and Energy Pvt Ltd (RGPPL) and sale of NTPC’s share (14.82 per cent) (on totally dilutive foundation) in Konkan LNG Ltd (KLL),” based on a BSE submitting.

It added that after switch of shares as per the agreements, NTPC will exit from KLL, and NTPC’s shareholding in RGPPL will stand at 86.49 per cent.

RGPPL was integrated on July 8, 2005, and is promoted by NTPC Ltd and GAIL (India) Ltd. The corporate was set as much as take over and revive the property of Dabhol Energy Firm Challenge.

RGPPL owns an built-in energy technology and re-gasified LNG facility. The facility station is likely one of the India’s massive gas-based mixed cycle energy station.

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