New Delhi, June 17 -- NHPC Ltd has shelved its plan to buy out its PSU peers in power trading company PTC India Ltd, two people aware of the matter said.

Earlier this year, NHPC had informed the power ministry that it would not sell its PTC stake, but would rather consider taking over the shares of other promoters NTPC Ltd, Power Grid Corp. of India and Power Finance Corp in PTC India. However, the company has now decided not to pursue the plan and informed its decision to the Centre, the people cited above said on the condition of anonymity.

NHPC, NTPC, Power Grid and PFC hold about 4.05% each in PTC India, totalling 16.2%. The Life Insurance Corp. of India (LIC) holds 4.13%.

"NHPC will not take over stakes of the other promoters. Giv...