The Uttar Pradesh Electricity Regulatory Commission has sought a report from the power corporation on the financial and technical parameters of Noida and Ghaziabad regions to ascertain what should be the eligibility criteria for any company to get a distribution license in that region. Adani Group has filed petition to get electricity distribution license in Noida- Ghaziabad. The regulatory commission is probing the net worth of the group mentioned in the petition. On the other hand, the consumer council has termed Adani Group’s proposal as against the rules.

UP Power Corporation Limited has sought report of financial and technical parameters.

Ashish Goyal, who recently returned to the state after a stint at the centre, has been named as the new CMD of the Uttar Pradesh Power Corporation Limited (UPPCL)

Ashish Goyal Gets Charge As CMD UPPCL

Uttar Pradesh has weak demographic and socio-economic positioning with low per capita income compared with other states. The weak social indices will necessitate considerable outlays for eventual convergence to the national average level over a longer term.

Total debt plus guarantee to GSDP has risen close to 48% in fiscal 2021 from 42.8% in the previous fiscal. The increase was mainly due to higher borrowing to fund revenue deficits and capital outlays and also increase in guarantees.

The issuer has made timely interest payments.

Sri Pankaj Kumar (IAS), MD

Dr. Ashish Goel (IAS), Chairman

The GoUP has extended an unconditional and irrevocable guarantee for the rated bonds. The respective structures define the event for invocation of the guarantee by the trustee and other credit enhancers.

The structure provides for the GoUP budgetary support for servicing the bonds by way of the requisite fund infusion in the default escrow account anytime between 15 and 45 prior to every quarterly bond servicing date.

Uttar Pradesh is the third-largest Indian state in terms of gross state domestic product with consistent revenue surpluses, benefitting from the high share in central tax devolutions and healthy own-tax revenue.


10.15%UP Power Corporation Limited 20 Jan 2027

ISIN:

INE540P07343

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UP Power Corporation Limited

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UP Power Corporation Limited has sought report of financial and technical parameters.

Ashish Goyal Gets Charge As CMD UPPCL

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