Acquisition of MEL Power Transmission Limited by POWERGRID under TBCB route.
Awaiting price reaction for this filing.
POWERGRID has acquired 100% of MEL Power Transmission Limited (MPTL) on June 4, 2025, for an aggregate value of about Rs. 8.53 crore (including 10,000 equity shares at Rs. 10 each). MPTL is a newly incorporated project SPV (incorporated on 19.11.2024) set up to build a 400kV D/C transmission line and associated bays at the existing Rewa PS (PG) sub-station in Madhya Pradesh for evacuating power from Mahan Energen Limited's generating station, on a BOOT basis. The acquisition was made after POWERGRID emerged as the successful bidder in the TBCB process coordinated by PFC Consulting Limited. MPTL is yet to start commercial operations, has no turnover history, and the deal is not a related party transaction. Approvals for grant of transmission license and adoption of transmission charges are pending from CERC.
This is a routine, small-value capacity addition to POWERGRID's transmission portfolio and is fully aligned with its core business. The Rs. 8.53 crore outlay is immaterial relative to POWERGRID's size, so the impact on shareholders is neutral, though it incrementally strengthens the company's TBCB project pipeline.