Anzen India Energy Yield Plus Trust Acquires Kudgi Transmission Limited
BSE Limited has announced that the Board of Directors of EAAA Real Assets Managers Limited, the Investment Manager of Anzen India Energy Yield Plus Trust, has taken note of a valuation report concerning the acquisition of Kudgi Transmission Limited (KTL). The report was issued by Jayeshkumar Shah, having IBBI Registration Number IBBI/RV/07/2020/13066.According to the report, the fair enterprise value of KTL as of December 31, 2025, is INR 20,691 million. This valuation is part of the Trust's proposed acquisition of 100% equity stake in KTL from Infrastructure Yield Plus II, Infrastructure Yield Plus IIA, and India Infrastructure Yield Plus II, following a Right of First Offer agreement dated December 19, 2024.
Anzen India Energy Yield Plus Trust is an infrastructure investment trust registered with the Securities and Exchange Board of India (SEBI) on January 18, 2022, under registration number IN/InvIT/21-22/0020. The Trust primarily invests in the transmission and solar power generation sectors in India and is listed on the National Stock Exchange of India Limited (NSE) and BSE Limited.
As of December 31, 2025, the Trust held a total of 19,619,3900 units, with 73.40% held by non-institutional investors. SEPL Energy Private Limited serves as the Sponsor, and EAAA Real Assets Managers Limited (ERAML) acts as the Investment Manager. ERAML manages the Trust and is responsible for overseeing investments and ensuring adherence to SEBI InvIT Regulations.
KTL is involved in the construction of 400/765 kV double circuit quad lines in Karnataka. The transmission service agreement with long-term transmission customers dictates that the concession period will last 35 years from the scheduled commissioning date. The valuation process involved using the Discounted Cash Flow (DCF) method, considering factors such as revenue streams, expenses, and a weighted average cost of capital (WACC) of 7.48%.
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