NTPC Limited (NSEI:NTPC) and Maharashtra State Power Generation Co. Ltd. entered into letter of intent to acquire Sinnar Thermal Power Limited from RattanIndia Power Limited on June 14, 2025. Adani Power Limited, JSW Energy Limited, Jindal Power Limited, Vedanta Limited, Torrent Power Limited and NTPC Limited signed a shareholder agreement to acquire Sinnar Thermal Power Limited from RattanIndia Power Limited for INR 38 billion on January 9, 2026. As of March 31, 2025, Sinnar Thermal Power Limited generated revenue of INR 0.


The transaction is subject to approval of bankruptcy court, National Company Law Tribunal, Delhi, and/or any other relevant regulatory authority, or tribunal, under applicable laws. The transaction is approved by the Committee of Creditors. As of November 28, 2026, the transaction has been approved by National Company Law Tribunal, Delhi.

NTPC Limited (NSEI:NTPC) and Maharashtra State Power Generation Co. Ltd. completed the acquisition of Sinnar Thermal Power Limited from RattanIndia Power Limited on February 24, 2026. Siddharth Srivastava, Mohit Kishore, Udita Singh, Prasenjit Chakravarti, Nitish Goel and Sanjana Bhatnagar of Khaitan & Co. acted as the legal advisor to NTPC.