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CCI approves acquisition of 51% of the equity share capital of NESCO Utility by Tata Power Company Limited from Grid Corporation of Odisha Limited The Competition Commission of India (CCI) approves acquisition of 51% of the equity share capital of North Eastern Electricity Supply Company of Odisha ("NESCO Utility") by The Tata Power Company Limited ("TPCL") from Grid Corporation of Odisha Limited ("GRIDCO") under Section 31(1) of the Competition Act, 2002, on 18th March 2021. The proposed
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FAQ :
The CCI has approved the acquisition of 51% of the equity share capital of NESCO Utility by Tata Power Company Limited (TPCL) from Grid Corporation of Odisha Limited (GRIDCO).
Tata Power Company Limited (TPCL) is acquiring the stake.
Tata Power is acquiring the stake from Grid Corporation of Odisha Limited (GRIDCO).
Tata Power is acquiring 51% of the equity share capital of NESCO Utility.
NESCO Utility is engaged in power distribution and retail supply in the districts of Balasore, Bhadrak, Jajpur, Keonjhar, and Baripada in Odisha.
The CCI approval was granted on 18th March 2021.
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