NHPC Limited's Holding in Subsidiary CVPPL Revised from 58.16% to 50.86%
NHPC Limited, a Government of India Navratna Enterprise, has disclosed a reduction in its shareholding in subsidiary Chenab Valley Power Projects Limited (CVPPL) from 58.16% to 50.86%, attributable to additional equity infusion by co-promoter JKSPDCL. The regulatory intimation was issued under Regulation 30 of SEBI (LODR) Regulations, 2015, and CVPPL continues to remain a subsidiary of NHPC Limited.
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NHPC Limited , a Navratna Enterprise under the Government of India, has informed the stock exchanges of a change in its shareholding and voting rights in its subsidiary, M/s Chenab Valley Power Projects Limited (CVPPL). The disclosure was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, through a formal communication dated May 11, 2026, signed by the Company Secretary.
Change in Subsidiary Shareholding
NHPC's stake in CVPPL has been revised following receipt of additional equity contribution from M/s Jammu and Kashmir State Power Development Corporation Limited (JKSPDCL), which is another promoter of CVPPL. As a result of this additional equity infusion by JKSPDCL, NHPC's proportionate shareholding and voting rights in CVPPL have been reduced. The following table summarises the change in NHPC's holding:
| Parameter: | Details |
|---|---|
| Subsidiary Company: | Chenab Valley Power Projects Limited (CVPPL) |
| Previous Shareholding (NHPC): | 58.16% |
| Revised Shareholding (NHPC): | 50.86% |
| Reason for Change: | Additional equity contribution received from JKSPDCL |
| Other Promoter: | M/s Jammu and Kashmir State Power Development Corporation Limited (JKSPDCL) |
| Regulatory Compliance: | Regulation 30 of SEBI (LODR) Regulations, 2015 |
Regulatory Disclosure
The intimation was addressed to the Corporate Relationship Department of BSE Limited and the Listing Department of National Stock Exchange of India Limited, in accordance with applicable listing obligations. The communication was issued from NHPC's registered office at NHPC Office Complex, Sector-33, Faridabad, Haryana, under reference number NH/CS/199. CVPPL continues to remain a subsidiary company of NHPC Limited following this change in shareholding.
Historical Stock Returns for NHPC
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.51% | -7.08% | -9.98% | -2.50% | -13.94% | +187.24% |
Could JKSPDCL's continued equity infusions eventually reduce NHPC's stake in CVPPL below the 50% threshold, potentially causing it to lose subsidiary status?
How might the dilution of NHPC's controlling stake in CVPPL impact the company's consolidated revenue and earnings from Chenab Valley hydropower projects going forward?
What are the planned capacity additions or project milestones for CVPPL, and how will the revised ownership structure influence decision-making and capital allocation?
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