NTPC Vidyut Vyapar Nigam Ltd. (NVVN), a wholly-owned subsidiary of NTPC Ltd. has acquired a 5% equity stake in Power Exchange of India Ltd (PXIL). NVVN has purchased these shares from NSE Investment Limited, a co-promoter shareholder of PXIL today.
NVVN is one of the top power traders in India and the acquisition of an equity stake in PXIL is a strategic opportunity for NVVN to achieve and maintain a leadership position in the rapidly changing power trading market.
NVVN was formed by NTPC Ltd., India’s largest power generator and a Maharatna Company, in the year 2002, as its wholly-owned subsidiary to tap the potential of power trading in the country. NVVN holds the highest Category ‘I’ power trading license in terms of the latest CERC regulations.
PXIL is India’s first institutionally promoted power exchange, promoted by NSE Investment Ltd. & NCDEX and has been providing innovative and credible solutions since 2008.
Disclaimer : This is an official press release by PIB.
