NTPC Share Price in Focus on Signing Agreement with MAHAGENCO for STPL Acquisition

NTPC Ltd and Maharashtra State Power Generation Company Ltd (MAHAGENCO) have signed a shareholder agreement linked to the acquisition of Sinnar Thermal Power Ltd (STPL), the companies said in a stock exchange filing on January 9, 2026.  

The agreement relates to the joint acquisition of the company through an insolvency resolution process.  

Insolvency Process and Tribunal Clearance 

STPL is undergoing a corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. The resolution plan submitted by the NTPC - MAHAGENCO consortium received approval from the National Company Law Tribunal (NCLT), Delhi, on November 28, 2025.  

The signing of the shareholder agreement follows the tribunal’s order and is part of the formal steps required to complete the transaction.  

Power Plant and Company Background 

Sinnar Thermal Power owns a coal-based thermal power plant with an installed capacity of 1,350 megawatts. The project comprises 5 units of 270 MW each and is located at Sinnar in Maharashtra’s Nashik district.  

STPL was incorporated in January 2007 and is an unlisted public company. Regulatory disclosures show that only one 270 MW unit has declared commercial operations so far.  

Acquisition Cost and Shareholding 

The total cost of acquisition for the consortium has been fixed at ₹3,800.14 crore and will be paid in cash. Once the transaction is completed, 100% of STPL’s equity will be held by the consortium.  

NTPC and MAHAGENCO will own equal stakes of 50% each. The filing states that the transaction does not fall under related-party transactions.  

Timeline for Completion 

According to the filing, the acquisition is expected to be completed within 90 days from the date of the NCLT approval. T 

his places the expected closing of the transaction on or before February 26, 2026. No additional regulatory approvals have been indicated as pending at this stage.  

Capacity Figures  

After completion of the acquisition, NTPC Group’s total installed capacity is expected to increase to 86,987 MW, while commercial capacity will rise to 85,907 MW.   

The shareholder agreement is a procedural stage in concluding the transfer of STPL under the approved resolution plan. 

NTPC Share Price Performance  

As of January 12, 2026, 10:07 am, NTPC Ltd share price was trading at ₹337.80, a 0.54% increase from the previous closing price. 

Read More: SoftBank Trims 2.15% Stake in Ola Electric Via Open Market! 

Conclusion  

The shareholder agreement is a required step following tribunal approval of the resolution plan. The acquisition is scheduled to be completed by February 26, 2026, subject to the stated timeline. 

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