Please refer the attachment.
Awaiting price reaction for this filing.
NLC India Limited's wholly-owned subsidiary, NLC India Renewables Limited (NIRL), has incorporated a joint venture company named 'NIRL Assam Renewables Limited' with Assam Power Distribution Company Limited (APDCL), with equity participation of 51:49 respectively. The Certificate of Incorporation was issued by the Ministry of Corporate Affairs on May 7, 2025. The new JV will develop, operate, and maintain renewable energy projects in Assam to help meet the state's renewable power obligations. Government approvals from the Ministry of Coal and DIPAM were obtained on March 7, 2025. Shares are being subscribed in cash at face value of Rs. 10 each, with NIRL holding 51% control.
This is a strategic move to expand NLC India's renewable energy footprint through a state-backed partnership in Assam, supporting India's green energy transition. The investment size is modest at face value, but it opens a new growth avenue and aligns with rising renewable power demand, which is mildly positive for long-term prospects.