NTPC Acquires 26% Stake in NTPC EDMC Waste Solutions

NTPC Ltd announced that it has purchased a 26% stake in NTPC EDMC Waste Solutions, a joint venture with the Municipal Corporation of Delhi.

With this, NTPC EDMC Waste Solutions Private Limited (NEWS) will become a wholly-owned subsidiary of NTPC, which currently owns a 74% interest, according to an exchange filing.

In its regulatory filing, the company said, “NTPC has signed an agreement with Municipal Corporation of Delhi and NTPC EDMC Waste Solutions Private Limited for termination of Joint Venture Agreement dated 11th June 2019 and acquisition of MCD’s 26% shareholding (52,000 equity shares) in NEWS.” 

The NTPC Board of Directors and the MCD House of Corporation have approved NTPC’s acquisition of MCD’s 26% interest in NEWS.

The cost of acquiring a 26% shareholding is Rs 5,20,000 (52,000 equity shares at Rs 10 each).

NEWS was formed on 1 June 2020, as a joint venture company between NTPC and MCD (formerly EDMC), with 74% and 26% shareholdings, respectively, with a registered office in Delhi to conduct waste management and electricity generation activity.

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