NTPC gains on acquiring stake of BSPGCL in KBUN, NPGC
NTPC has acquired 27.36% equity of Bihar State Power Generation Company (BSPGCL) in Kanti Bijlee Utpadan Nigam (KBUN) which owns 610 MW Muzaffarpur Thermal Power Station and 50% equity of BSPGCL in Nabinagar Power Generating Company (NPGC) which is developing 1980 MW Nabinagar Super Thermal Power Project in district Aurangabad, Bihar.
With this acquisition, KBUN and NPGC are now wholly owned subsidiaries of NTPC.
The promoters holding in the company stood at 62.27%, while Institutions and Non-Institutions held 34.35% and 3.37% respectively.
Currently Company is involved in the business activities of Electric power generation by coal based thermal power plants
Post this news the company closed touched day high of Rs.160.9 mark and closed the trading session by 2.08 per cent up at Rs.159.6 mark.