NTPC has successfully completed the acquisition of Sinnar Thermal Power Limited (STPL) on February 24, 2026, through a consortium with Maharashtra State Power Generation Company Limited (MAHAGENCO), marking a significant expansion of the state-owned power giant's generation capacity.

NCLT Approval and Deal Completion

The acquisition was completed following the approval of a resolution plan by the National Company Law Tribunal (NCLT). STPL was undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code 2016 (IBC) when the consortium successfully acquired the company through the established legal framework.

Plant Specifications and Capacity Enhancement

STLP owns a coal-based thermal power plant with 5X270 MW units, totaling 1,350 MW capacity, located at Sinnar, Nashik, Maharashtra. Following the successful completion of this acquisition, NTPC's total installed capacity has reached 88,132 MW, while the commercial capacity stands at 87,052 MW.

Strategic Significance

The acquisition of Sinnar Thermal Power Limited represents NTPC's ongoing strategy to expand its thermal power portfolio through targeted acquisitions of distressed assets. The consortium approach with MAHAGENCO demonstrates effective collaboration between central and state power generation companies to optimize asset utilization.

This transaction underscores NTPC's ability to successfully navigate complex acquisition processes, including securing necessary regulatory approvals through established legal frameworks such as NCLT resolution plans under the Insolvency and Bankruptcy Code.

NTPC Limited has successfully obtained waiver of regulatory fines totaling ₹31.03 lakh from BSE, providing significant relief from penalties imposed for non-compliance with SEBI listing regulations. The waiver addresses fines levied due to insufficient independent directors on the company's board across multiple quarters.

Fine Waiver Details

BSE communicated its approval for the fine waiver on 17th February 2026, covering violations across seven different SEBI LODR regulations. The waiver encompasses penalties imposed for non-compliance spanning from September 2021 to June 2025.

Background and Resolution Process

The fines were originally imposed due to the non-availability of requisite number of independent directors on NTPC's board, affecting the company's ability to maintain proper committee compositions and board meeting quorum as mandated by SEBI regulations. Following the appointment of independent directors by the President of India through the Ministry of Power, NTPC formally requested both BSE and NSE for waiver of the accumulated fines.

Automatic NSE Waiver Application

Under the circular dated 26th August 2025 issued by both BSE and NSE regarding 'Processing of waiver applications by the Exchanges in case of commonly listed entities', the waiver approved by BSE automatically extends to NSE as well. This unified approach eliminates the need for separate waiver processes across exchanges for commonly listed companies.

Regulatory Compliance

NTPC has disclosed this development in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company secretary and compliance officer, Ritu Arora, signed the formal communication to both exchanges on 18th February 2026, ensuring transparent disclosure to stakeholders about this significant regulatory development.