Tata Power announced that it has received the Letter of Intent (LOI) from the Odisha Electricity Regulatory Commission (OERC) for the distribution and retail supply of electricity in Odisha’s five circles of NESCO constituting the areas of Balasore, Bhadrak, Baripada, Jajpur, and Keonjhar. As per conditions of Bid Documentation, Tata Power will hold 51 percent equity with management control and the State-owned GRIDCO will have the remaining 49 percent equity stake in the company.