Acquisition Details

Power Grid Corporation of India Limited acquired Krishnagiri REZ Transmission Limited on August 3, 2026. The acquisition was made pursuant to POWERGRID's selection as the successful bidder under Tariff Based Competitive Bidding (TBCB) process.

Target Entity Information

Name: Krishnagiri REZ Transmission Limited

Industry: Power Transmission

Date of Incorporation: April 29, 2026

Incorporated by: Bid Process Coordinator - PFC Consulting Limited (PFCCL)

Country of Operation: India

Turnover History: No commercial operations or turnover recorded in the last 3 years

Transaction Structure

Acquisition Type: 100% shareholding acquisition

Consideration Type: Cash consideration

Acquisition Price: ₹19.82 crore aggregate value

Share Details: 10,000 equity shares acquired at par value of ₹10 per share

Additional Assets: Acquisition includes all assets and liabilities of Krishnagiri REZ Transmission Limited as of August 3, 2026

Price Adjustment: The acquisition price is subject to adjustment based on audited accounts of the company as of the acquisition date

Project Details

Project Name: Transmission System for integration of Krishnagiri REZ Phase-I

Basis: Build, Own, Operate and Transfer (BOOT) basis

Infrastructure Components:

  • 2 new 765/400kV substations in Andhra Pradesh
  • 765kV & 400kV transmission lines traversing through Andhra Pradesh, Telangana, and Karnataka
  • Associated bays

Regulatory Framework

The acquisition was conducted under:

  • "Guidelines Encouraging Competition in Development of Transmission Projects"
  • "Tariff based Competitive bidding Guidelines for Transmission Service"
  • Notified by Ministry of Power (MoP)

Related Party Status

No related party transactions involved. POWERGRID had no prior interest in Krishnagiri REZ Transmission Limited before the acquisition.

Business Alignment

Krishnagiri REZ Transmission Limited is engaged in power transmission business, which aligns with POWERGRID's main line of business.

Required Approvals

Post-acquisition approvals required from Central Electricity Regulatory Commission:

  • Grant of Transmission License
  • Adoption of Transmission Charges

Timeline

Acquisition completed on August 3, 2026 as per timelines furnished by Bid Process Coordinator.

Financial Impact

Initial acquisition cost: ₹19.82 crore (subject to adjustment based on audited accounts).

Compliance Officer

Anjana Luthra, Company Secretary & Compliance Officer, signed the disclosure on August 3, 2026.