Indian state-run power generator National Thermal Power Corporation Ltd (NTPC) has informed that it has acquired 44.6% stake in Transformers and Electricals Kerala Ltd (TELK) from the Kerala state government.

NTPC authorities stated in a communiqué that the company has invested Rs 313 million for purchasing the stake.

The stake has been valued at 313.4 million rupees ($6.4 million), although the final price is subject to valuation of assets as at end March 2009.

Transformers and Electricals Kerala is engaged in manufacturing and repair of heavy duty transformers.