New Delhi: State-owned NHPC Limited on Monday informed stock exchanges that its shareholding and voting rights in its subsidiary, Ratle Hydroelectric Power Corporation Limited (RHPCL), have temporarily declined to 49.72 percent from 59.51 percent.
The change followed the infusion of additional equity by Jammu and Kashmir State Power Development Corporation Limited, another promoter of RHPCL, NHPC said in a regulatory filing on Monday.
NHPC clarified that the reduction in its holding is temporary and its stake in RHPCL will increase once it contributes matching equity, which is currently under process.
Ratle Hydroelectric Power Corporation Limited is implementing the Ratle hydropower project in Jammu and Kashmir, with NHPC and the Jammu and Kashmir government entities as its promoters.
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