NTPC to become sole promoter of PTC India

The Board of PTC India Limited has taken note of a directive from the Ministry of Power (MoP) under which NTPC Limited will become the sole promoter of the company. The move involves the exit of three other state-owned promoters and changes to PTC India’s leadership structure.

In a regulatory filing dated January 23, 2026, PTC India said its Board of Directors had reviewed an Office Memorandum issued by the MoP on January 16, 2026. The memorandum sets out a restructuring of the company’s ownership and governance framework.

Under the directive, Power Finance Corporation (PFC), Power Grid Corporation of India (POWERGRID), and NHPC Limited (NHPC) will withdraw their nominee directors from the PTC board. These entities will also give up their promoter rights as defined under PTC India’s Articles of Association. Following this process, NTPC will remain the sole promoter of the company.

The directive also provides for a change in the leadership structure. The existing combined role of Chairman and Managing Director (CMD) will be split into two positions. These will be a Non-Executive Chairman and an Executive Managing Director. The CMD of NTPC will take over as Non-Executive Chairman of PTC India, while the current CMD of PTC India will be redesignated as Managing Director.

The MoP has further indicated that, after the withdrawal of nominee directors from PFC, POWERGRID, and NHPC, and the transfer of management control to NTPC, it may also withdraw its own nominee director from the PTC board.

To implement these changes, amendments to PTC India’s Articles of Association will be required. After the amendments, PFC, POWERGRID, and NHPC are expected to apply for reclassification as non-promoters in line with Securities and Exchange Board of India (SEBI) regulations. NTPC’s Executive Director (CP and BD) has been named as the nodal officer for coordinating the implementation of the directive.

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