Public Sector

NTPC inks pact to buy GAIL’s 25.1% stake in Ratnagiri Gas & Power

NTPC inks pact to buy GAIL's 25.1% stake in Ratnagiri Gas & Power

NTPC inks pact to buy GAIL’s 25.1% stake in Ratnagiri Gas & Power

New Delhi: NTPC inks pact to buy GAIL’s 25.1% stake in Ratnagiri Gas & Power – State-claimed NTPC on Tuesday said it has consented to an offer buy arrangement to purchase GAIL’s 25.51% stake in Ratnagiri Gas and Power Pvt Ltd (RGPPL), which is regularly known as the Dabhol project.

After the exchange is finished, NTPC would have a 86.49% stake in the RGPPL. Prior in January, the organization had declared obtaining a 37.47% stake in RGPPL from its stakeholders. At first, NTPC and GAIL had a 25.51% stake each in the Dabhol project GAIL’s offer (25.51%) in Ratnagiri Gas and Power Pvt Ltd (RGPPL) and offer of NTPC’s offer (14.82%) (on the completely dilutive premise) in Konkan LNG Ltd (KLL),” as per a BSE recording.

It added that after the exchange of offers according to the arrangements, NTPC will exit from KLL, and NTPC’s shareholding in RGPPL will remain at 86.49%.

RGPPL was joined on July 8, 2005, and is advanced by NTPC Ltd and GAIL (India) Ltd. The organization was set up to dominate and restore the resources of the Dabhol Power Company Project.

RGPPL possesses a coordinated power age and re-gasified LNG office. The force station is one of India’s enormous gas-based consolidated cycle power stations.

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