The Narendra Modi government on Friday (August 30) granted ‘navratna status’ to Satluj Jal Vidyut Nigam (SJVN) Ltd, NHPC Ltd, RailTel Corporation of India Ltd and Solar Energy Corporation of India Ltd.

RailTel Corporation of India has become the 22nd ‘Navratna,’ followed by Solar Energy Corporation of India as the 23rd, NHPC as the 24th, and Satluj Jal Vidyut Nigam as the 25th ‘Navratna’ in India.

Shimla-based SJVN is a listed company with the following shareholders’ pattern: 55% with the Government of India, 26.85% with the Himachal Pradesh government and the remaining 18.15% with the public.

Also Read: Insecticides India approves ₹50-crore buyback at ₹1,000 per share — check record date

NHPC, under the Ministry of Power, is the largest hydropower development organisation in India, with capabilities to undertake a range of activities from conceptualisation to commissioning of hydro projects. The Faridabad-based company has also diversified into solar and wind energy development.

RailTel is a central public sector undertaking (CPSU) under the Railways Ministry. Solar Energy Corporation of India Ltd (SECI) is a nodal agency of the central government for auctioning renewable energy projects.

What is navratna status?

The Indian government accords the navratna status to top-tier public sector undertakings (PSUs). This status allows the organisations to undertake substantial investments of up to ₹1,000 crore without needing approval from the Centre.

These companies have the liberty to invest up to 30% of their net worth within a year, as long as it stays below ₹1,000 crore. They can also engage in joint ventures, form alliances, and establish subsidiaries abroad.

Also Read: Sonata Software bags multi-million dollar IT outsourcing deal from US healthcare leader

For a company to be accorded navratna status, it should already hold the miniratna category I status and be listed under Schedule A of CPSEs.