Nature of the Event

Power Grid Corporation of India Limited (POWERGRID) has acquired Bhadla Ramgarh Power Transmission Limited, a project special purpose vehicle (SPV). The acquisition was made pursuant to POWERGRID being selected as the successful bidder under the Tariff Based Competitive Bidding (TBCB) process.

Key Quantitative Figures

  • The aggregate acquisition value is approximately ₹12.86 Crore.
  • This includes 50,000 equity shares acquired at par value of ₹10/- each.
  • The acquisition price is subject to adjustment based on the audited accounts of Bhadla Ramgarh Power Transmission Limited as of the acquisition date (29.07.2026).

Dates of Action

  • The acquisition was completed on 29.07.2026.
  • Bhadla Ramgarh Power Transmission Limited was incorporated on 08.05.2026.

Parties Involved

  • Acquirer: Power Grid Corporation of India Limited (POWERGRID)
  • Acquired Entity: Bhadla Ramgarh Power Transmission Limited (Project SPV)
  • Bid Process Coordinator: REC Power Development and Consultancy Limited (RECPDCL)
  • Regulatory Bodies Mentioned: Central Electricity Regulatory Commission (CERC), Ministry of Power (MoP)

Purpose or Stated Rationale

The acquisition was made to establish an Inter-State Transmission system for "Augmentation at Bhadla-III, Ramgarh PS and Kanpur (PG)" on a build, own, operate, and transfer (BOOT) basis. The project comprises augmentation and bay extension works at Bhadla-III Substation (Rajasthan), Ramgarh Substation (Rajasthan), and Kanpur Substation (Uttar Pradesh). The business of the acquired entity is aligned with POWERGRID's core business of power transmission.

Financial and Operational Impact

  • POWERGRID acquired 100% shareholding and control of the entity.
  • The acquired entity is yet to start commercial operations and has recorded no turnover in the last 3 years.
  • The acquisition is not a related party transaction. Prior to the acquisition, POWERGRID had no interest in the entity.

Capital Structure Impact

The acquisition involved the purchase of 50,000 equity shares, resulting in POWERGRID holding 100% of the company's share capital.

#Tags: #POWERGRID #Acquisition #TBCB #SEBIDisclosure #RegulatoryCompliance #Neutral