Power Grid Corporation of India Limited has informed the Exchange about Acquisition of MEL Power Transmission Limited by POWERGRID under TBCB route
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Power Grid Corporation of India Limited (POWERGRID) has acquired 100% of MEL Power Transmission Limited (MPTL) on June 4, 2025, after emerging as the successful bidder under the Tariff Based Competitive Bidding (TBCB) process. MPTL is a project special purpose vehicle (SPV) incorporated in November 2024 to set up a 400kV double circuit transmission line and associated bays at the existing Rewa PS sub-station in Madhya Pradesh, for evacuating power from the Mahan Energen Limited generating station. The acquisition was done on a build, own, operate and transfer (BOOT) basis from PFC Consulting Limited (PFCCL) for a cash consideration of about Rs. 8.53 crore. MPTL has not yet started commercial operations and the deal is not a related party transaction. POWERGRID will now need to obtain transmission license and tariff approvals from CERC for the project.
This is a routine, small-value acquisition (Rs. 8.53 crore) that strengthens POWERGRID's core transmission business in Madhya Pradesh. The project is still in the development phase and will only contribute to earnings once commercial operations begin, so there is no immediate material impact on the stock or financials for existing shareholders.