NTPC inks pact to buy GAIL’s 25.1% stake in Ratnagiri Gas and Power
NEW DELHI : State-owned NTPC on Tuesday said it has signed a share purchase agreement to buy GAIL’s 25.51% stake in Ratnagiri Gas and Power Pvt Ltd (RGPPL), which is commonly known as Dabhol project.
After the transaction is complete, NTPC would have 86.49% stake in the RGPPL. Earlier in January, the company had announced acquiring 37.47% stake in RGPPL from its lenders. Initially, NTPC and GAIL had 25.51% stake each in the Dabhol project.
“NTPC Ltd has executed ahare purchase agreements with GAIL (India) Ld on February 23, 2021, for purchase of GAIL’s share (25.51%) in Ratnagiri Gas and Power Pvt Ltd (RGPPL) and sale of NTPC’s share (14.82%) (on fully dilutive basis) in Konkan LNG Ltd (KLL),” according to a BSE filing.
