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

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

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NEW DELHI: State-owned on Tuesday stated 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 often often called Dabhol venture.

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 venture.

“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),” in response to 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 included 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 Undertaking.

RGPPL owns an built-in energy era and re-gasified LNG facility. The ability station is among the India’s massive gas-based mixed cycle energy station.

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