NTPC consortium issued LoI as Successful Resolution Applicant for acquiring Sinnar Thermal Power Limited

The Resolution Plan submitted by the Consortium of Maharashtra State Power Generation Company Limited and NTPC Limited ("Consortium") for Sinnar Thermal Power Limited ("STPL"), a company undergoing Corporate Insolvency Resolution Process ("CIRP") under the Insolvency and Bankruptcy Code 2016 ("IBC"), has been approved by the Committee of Creditors ("COC"). The consortium has received a Letter of Intent ("LOI") from the Resolution Professional ("RP") on June 14, 2025 in this regard, subject to acceptance of associated terms and conditions.

The implementation of the resolution plan is subject to the terms outlined in the LOI and the necessary approvals from the National Company Law Tribunal, Delhi, and/or any other relevant regulatory authority, court, or tribunal, under applicable laws. STPL owns a coal based thermal power plant of 5X270 MW (1350MW) capacity at Sinnar, Nashik, Maharashtra.

Shares of NTPC Limited was last trading in BSE at Rs. 332.00 as compared to the previous close of Rs. 333.45. The total number of shares traded during the day was 252977 in over 4087 trades.

The stock hit an intraday high of Rs. 332.55 and intraday low of 326.70. The net turnover during the day was Rs. 83714859.00.

Source : Equity Bulls

Keywords

NTPC INE733E01010 Consortium ResolutionPlan Approval SinnarThermalPower