Power Grid Corporation of India Limited has informed the Exchange Acquisition of Davanagere Power Transmission Limited by POWERGRID under TBCB route.
POWERGRID · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Power Grid Corporation of India Limited (POWERGRID) has acquired 100% of Davanagere Power Transmission Limited (DPTL) for about Rs. 6.53 crore, including 50,000 equity shares at par value of Rs. 10 each plus assets and liabilities. DPTL is a newly incorporated Project SPV (set up on 26.06.2025) that will set up the 'Transmission System Strengthening at Davanagere for Integration of RE Generation' project in Karnataka on a build, own, operate and transfer (BOOT) basis. POWERGRID won the project through Tariff Based Competitive Bidding (TBCB), with REC Power Development and Consultancy Limited acting as the Bid Process Coordinator. DPTL is yet to start commercial operations and operates in the power transmission sector, which is POWERGRID's core business. The transaction is not a related-party deal, and necessary regulatory approvals for the transmission license and adoption of transmission charges will be sought from CERC after the acquisition.
This is a small-ticket, routine acquisition that strengthens POWERGRID's transmission infrastructure in Karnataka, particularly to support integration of renewable energy. The deal is minor in financial terms but adds to the company's project pipeline, and is unlikely to cause any significant short-term movement in the stock price.