NHPC Limited has announced a reduction in its shareholding and voting rights in its subsidiary, Chenab Valley Power Projects Limited (CVPPL). The company’s stake has decreased from 58.16% to 50.86% due to an additional equity contribution from Jammu and Kashmir State Power Development Corporation Limited (JKSPDCL), another promoter of CVPPL.
This change in shareholding is in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The adjustment reflects the evolving dynamics of ownership within CVPPL, which is a key subsidiary under NHPC Limited.
The reduction in NHPC’s stake signifies a strategic shift in the shareholding pattern of CVPPL, potentially impacting the operational and strategic decisions within the subsidiary. The involvement of JKSPDCL as a significant contributor underscores its commitment and influence in the power projects managed by CVPPL.
NHPC Limited, a major player in the Indian power sector, continues to manage its portfolio of subsidiaries and investments to align with its strategic objectives and regulatory requirements.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).