NHPTL board approves 13.1 million NHPC share transfer to Power Grid

12 Jun 2024 CW Team

Hydropower giant NHPC announced that the board of its joint venture, National High Power Test Laboratory Pvt Ltd (NHPTL), has approved the transfer of 13.1 million equity shares to Power Grid Corporation. According to the regulatory filing, this decision reduces NHPC's stake in NHPTL from 20% to 12.5%, meaning NHPTL will no longer be an associate company of NHPC Ltd.

The board's decision follows a supplementary joint venture agreement signed between NHPTL partners. In April 2024, state-owned Power Grid Corporation agreed to infuse funds and acquire a 50% stake in the financially troubled NHPTL. This agreement was formalised on April 23, 2024, with NHPTL shareholders.

NHPTL is a joint venture involving NTPC, NHPC, DVC (Damodar Valley Corporation), and CPRI (Central Power Research Institute). The infusion of funds is contingent upon approval from the management of the JV parties.

A revival plan was agreed upon in a meeting with the Ministry of Power on September 15, 2022, aiming to address NHPTL's financial crisis and ensure its long-term viability. Under this plan, Power Grid's equity in NHPTL will increase to 50%, with the remaining equity distributed equally among the other four JV partners, each holding 12.5%.

Following the equity infusion by Power Grid, the NHPTL board will include two directors from Power Grid, including the chairman, and one nominee director from the other promoters on a rotational basis. The joint venture's objective is to establish an online high power short circuit test facility in India, offering a comprehensive range of short circuit testing services for the electrical equipment manufacturing industry and power supply utilities, in line with Indian and international standards.

Building Material

18 Sep 2025

Ambuja Cements Drags JSW Cement to Court Over ‘Kawach’ Brand

Ambuja Cements, part of the Adani Group, has filed a trademark infringement case against JSW Cement in the Delhi High Court, alleging that its rival copied the ‘Kawach’ brand with its new product ‘Jal Kavach’.Justice Manmeet Pritam Singh Arora issued summons to JSW Cement and its subsidiary, JSW IP Holdings Pvt Ltd, while referring the matter to mediation. Hearings are scheduled to resume on October 15 if no settlement is reached.Ambuja, which registered the ‘Kawach’ trademark in 2019, argues that the term ‘Kavach’—meaning shield—is the distinctive feature of its branding. ..

Bentley Systems Named Innovation Partner of the Year 2025 by Afcons

Bentley Systems, the infrastructure engineering software company, has been recognised by Afcons Infrastructure Limited as its Innovation Partner of the Year 2025 at the Innovation Partners 2025 Felicitation Ceremony in Mumbai. The award acknowledges Bentley’s contribution to Afcons’ engineering digitalisation journey through an enterprise agreement providing access to over 250 Bentley engineering software tools. This adoption has enabled Afcons to accelerate project delivery, standardise digital workflows, and strengthen innovation across its infrastructure portfolio. Among key i..

SBI Sells 13.18% Stake in Yes Bank to Japan’s SMBC

State Bank of India (SBI) has completed the sale of a 13.18 per cent stake in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for over Rs 8,889 crore. The divestment is part of a Rs 13,482 crore deal finalised in May with SMBC and seven private banks.Following the transaction, SBI’s shareholding in Yes Bank stands at 10.8 per cent. The deal, involving 4,134.4 million shares at Rs 21.50 each, is the largest cross-border transaction in the Indian banking sector.SBI Chairman C S Setty described the 2020 RBI-led rescue of Yes Bank as a pioneering public-private partnership, addi..