NHPC Limited has announced a revision in its equity stake in its subsidiary, Chenab Valley Power Projects Limited (CVPPL). Following the receipt of additional equity contributions from the Jammu and Kashmir State Power Development Corporation Limited (JKSPDCL), NHPC’s shareholding and voting rights in CVPPL have been adjusted from 58.16% to 50.86%.
Change in Equity Structure
NHPC Limited has officially communicated a change in the capital structure of its subsidiary, Chenab Valley Power Projects Limited (CVPPL). This adjustment follows the infusion of additional equity capital by Jammu and Kashmir State Power Development Corporation Limited (JKSPDCL), which serves as a co-promoter of the joint venture company.
Impact on Stakeholding
As a result of this fresh capital injection by the partner promoter, the ownership interest held by NHPC Limited in CVPPL has been recalibrated. The equity stake and associated voting rights for NHPC have transitioned from the previous level of 58.16% to the current 50.86%. Despite this change in the percentage of holding, CVPPL continues to be a subsidiary of NHPC Limited.
Source: BSE
