M&A
NTPC to buy 50% stake in Jhabua Power for Rs.925-Cr
Publicly-listed power generating company NTPC Ltd has acquired a 50% stake in Jhabua Power Company - originally promoted by the Avantha Group - through the Insolvency and Bankruptcy Code (IBC) process, for INR 925 crore (INR 324 Cr via equity and INR 600 Cr as NCDs). The target, which operates a 600 MW thermal unit in the Seoni district of Madhya Pradesh, reported a turnover of INR 1,584 crore for FY22.
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