H.G. Infra acquires 100% stake in Ranipur Chunar Power Transmission SPV
HGINFRA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
H.G. Infra Engineering has executed a Share Purchase Agreement with REC Power Development to acquire 100% of Ranipur Chunar Power Transmission Limited, an SPV, for Rs. 5 lakh in cash (50,000 shares at face value of Rs. 10 each). The SPV will set up 220/132/33 kV AIS substations at Ranipur and Chunar in Uttar Pradesh under a 35-year intra-state transmission system project. The deal is not a related party transaction and was done under the existing RFP and Letter of Award.
Positive - expands H.G. Infra into power transmission EPC, adding a long-term 35-year project pipeline; deal size is small but strategically relevant.