AgenciesNew Delhi: NTPC Vidyut Vyapar Nigam Ltd (NVVN), a wholly owned subsidiary of NTPC Ltd, on Monday acquired a 5 per cent equity stake in Power Exchange of India Ltd (PXIL).
NVVN has purchased these shares from NSE Investment Ltd, a co-promoter shareholder of PXIL, an official statement said.
The acquisition of equity stake in PXIL is a strategic opportunity for NVVN to achieve and maintain a leadership position in the rapidly changing Power trading market, it said.
NVVN was formed by NTPC Ltd, India’s largest power generator, in the year 2002, as its wholly owned subsidiary to tap the potential of power trading in the country.
NVVN holds Category ‘I’ power trading license in terms of latest Central Electricity Regulatory Commission (CERC) regulations.
PXIL is promoted by NSE Investment Ltd and NCDEX.
NVVN has purchased these shares from NSE Investment Ltd, a co-promoter shareholder of PXIL, an official statement said.
The acquisition of equity stake in PXIL is a strategic opportunity for NVVN to achieve and maintain a leadership position in the rapidly changing Power trading market, it said.
NVVN was formed by NTPC Ltd, India’s largest power generator, in the year 2002, as its wholly owned subsidiary to tap the potential of power trading in the country.
NVVN holds Category ‘I’ power trading license in terms of latest Central Electricity Regulatory Commission (CERC) regulations.
PXIL is promoted by NSE Investment Ltd and NCDEX.
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