Power Grid Acquires Krishnagiri REZ Transmission Limited in Strategic Bid
Power Grid Corporation of India Limited has successfully acquired Krishnagiri REZ Transmission Limited, a project SPV established for the establishment of an Inter-State Transmission system. POWERGRID emerged as the successful bidder through a Tariff based competitive bidding process managed by PFC Consulting Limited (PFCCL).The acquisition focuses on developing infrastructure vital for integrating the 'Transmission System for integration of Krishnagiri REZ Phase-I'. This project involves establishing two new 765/400kV Sub-stations in Andhra Pradesh. Additionally, the project mandates the construction of 765kV and 400kV transmission lines that will traverse through Andhra Pradesh, Telangana, and Karnataka, along with associated bays.
Krishnagiri REZ Transmission Limited operates within the Power Transmission industry and was incorporated on April 29, 2026. The acquisition aligns directly with POWERGRID's core business of transmitting power. Although the company is yet to commence commercial operations, no turnover has been recorded over the last three years.
The details regarding the acquisition include:
| Detail | Information |
|---|---|
| Target Entity Name | Krishnagiri REZ Transmission Limited |
| Industry | Power Transmission |
| Control Acquired | 100% of the shares |
| Acquisition Consideration | Cash consideration |
| Cost of Acquisition | Aggregate value of about Rs. 19.82 Crore |
| Shares Acquired | 10,000 equity shares at par (Rs. 10/- each) |
The acquisition price, which includes the company's assets and liabilities as of August 3, 2026, is subject to adjustment based on audited accounts.
Krishnagiri REZ Transmission Limited will operate in India and its business involves transmission of power. Post-acquisition by POWERGRID, the company will be responsible for obtaining the Grant of Transmission License and Adoption of Transmission Charges from Central Electricity Regulatory Commission.
POWERGRID Stock Price Movement
Today, Power Grid Corporation of India Limited shares edged higher to close at ₹287.00, settling after gaining 0.97%. The stock saw significant activity in the post-market session, trading on a volume totaling approximately 8.75 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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