Date: September 23, 2026
Acquisition Details
Ashoka Buildcon Limited has signed a Share Purchase Agreement (SPA) and acquired 100% equity stake in Sakoli Power Transmission Limited, a Project Special Purpose Vehicle (SPV).
Target Entity Information
- Name: Sakoli Power Transmission Limited
- Ownership: Previously wholly owned subsidiary of REC Power Development and Consultancy Limited
- Industry: Power Transmission
- Incorporation Date: July 07, 2025
- Size/Turnover: Nil (newly formed entity)
- Business: Special Purpose Vehicle formed to provide transmission service on Build-Own-Operate-Transfer (BOOT) basis
Transaction Details
- Acquisition Type: 100% equity stake purchase
- Consideration: Cash consideration (amount not disclosed)
- Completion Date: September 23, 2026
- Related Party Status: Not a related party transaction
- Post-acquisition Status: Sakoli Power Transmission Limited becomes wholly owned subsidiary of Ashoka Buildcon Limited
Project Background
- Project Award: Letter of Intent dated August 13, 2026 received from REC Power Development and Consultancy Limited
- Project Type: Establishment of 400/220/132 kV AIS Sakoli Substation and Associated Transmission Lines
- Location: District Bhandara
- Award Process: Tariff Based Competitive Bidding process
- Acquisition Requirement: Mandatory condition of RFP to purchase shares of Sakoli Power Transmission Limited
Regulatory Approvals
- Approval received from Ministry of Power for share transfer of SPV
Project Timeline
- Scheduled Date of Commercial Operation: 24 months from the date of acquisition of SPV (by September 2028)
Historical Information
- Not applicable as the SPV was incorporated on July 07, 2025