New Delhi: NTPC Limited has transferred the Kerandari Coal Mine to its wholly owned subsidiary NTPC Mining Ltd (NML), continuing the phased shift of its coal mining business to the new entity under an amended Business Transfer Agreement.

The transfer, effective from 1 December, covers the Kerandari block located in the North Karanpura Coalfields in Hazaribagh, Jharkhand. NTPC confirmed the development in an exchange filing.

This marks the latest handover after NTPC shifted the Chatti Bariatu and Badam coal mines, also in Jharkhand, to NML on 1 October in accordance with the amended agreement dated 17 September.

In August, NTPC announced that six coal blocks along with associated assets and liabilities would be transferred to NML in a progressive manner, subject to the fulfilment of conditions outlined in the amended agreement. The transfer is being carried out as a going concern on a slump sale basis and must be completed within 365 days from the signing date, pending statutory approvals.

The net worth of the coal mining business stood at Rs 3,150.98 crore as of March 2025.

BI Bureau