Power Grid Corporation of India Limited — JV/Acquisition, 11-11-2024: Acquisition

Power Grid Corporation of India Limited has acquired Bikaner B Power Transmission Limited for approximately ₹18.47 Cr in cash, aimed at establishing a new transmission system in Rajasthan. This acquisition grants PowerGrid 100% ownership of BBPTL, enhancing its position in the power transmission market. The project involves setting up a 765/400kV sub-station and associated transmission lines to facilitate power evacuation, aligning with PowerGrid's core operations. Despite BBPTL's recent incorporation in May 2024 and absence of past turnover, the strategic acquisition represents a significant opportunity for growth and operational efficiency.