Power Grid Corporation of India Limited has informed the Exchange about Acquisition of SR and ER Power Transmission Limited by POWERGRID under TBCB route.
POWERGRID · price
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Power Grid Corporation of India Limited (POWERGRID) has informed the stock exchange about acquiring SR and ER Power Transmission Limited. The acquisition has been carried out under the TBCB (Tariff Based Competitive Bidding) route, which is the standard mechanism used for awarding transmission projects in India through competitive bidding. This move is in line with POWERGRID's ongoing strategy to expand its transmission network by taking up new project SPVs awarded through competitive bidding. Specific financial details such as deal value and equity stake were not disclosed in the headline.
This acquisition is likely to be viewed positively by investors as it expands POWERGRID's transmission infrastructure portfolio and adds to its revenue-generating asset base. Acquisitions under TBCB are routine for POWERGRID and generally support long-term growth, though the immediate stock impact is usually limited unless deal size is material.