Tata Power Company Limited — JV/Acquisition, 07-11-2024: Acquisition

Tata Power has acquired a 100% equity stake in Paradeep Transmission Limited, a special purpose vehicle, by signing a Share Purchase Agreement. The acquisition, valued at ₹18.64 crore, aims to establish and operate transmission services, with expected commercial operations commencing in 24 months. The Ministry of Power has approved the share transfer, and Paradeep Transmission Limited generated a turnover of ₹256.183 crore. This strategic move expands Tata Power's capabilities in the power transmission sector.