Summary of Key Information:
Nature of Filing / Announcement: Outcome of Board Meeting under SEBI LODR Regulations 30 & 51
Corporate Actions:
The Board of Directors approved the incorporation of a Joint Venture Company with National Aluminium Company Limited (NALCO) with the following details:
- Equity Participation: 50:50 ratio between NLC India and NALCO
- Purpose: Development of 1080 MW (4 X 270 MW) Thermal Captive Power Plant in phases to meet captive power requirements of NALCO
- Additional Scope: Exploring options for long-term Power Purchase Agreements (PPA) for renewable energy requirements of NALCO
- Incorporation: The JV will be incorporated in India
- Consideration: Cash subscription of equity shares at face value of ₹10 per share
- Shareholding: 50% of shares will be held by NLC India
- Regulatory Approvals: Ministry of Coal conveyed DIPAM approval for JV formation via letter dated September 2026
- Conditions: Subject to various statutory and administrative approvals and compliance with DIPAM guidelines
Other Significant Information:
The JV falls under the Thermal Power Generation industry. The company name of the JV is yet to be finalized and will be made available/approved by the Ministry of Corporate Affairs.